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Highlights
A former State Bank of Hyderabad Deputy Manager K V Ramana Rao was arrested by CBI on Friday in the case of fraudulent withdrawal of Rs 8.5 crore deposits of High Court at Hyderabad. The fixed deposits were created by the official liquidator for the AP State Housing Corporation Limited at the Malkajgiri branch of the bank.
A former State Bank of Hyderabad Deputy Manager K V Ramana Rao was arrested by CBI on Friday in the case of fraudulent withdrawal of Rs 8.5 crore deposits of High Court at Hyderabad. The fixed deposits were created by the official liquidator for the AP State Housing Corporation Limited at the Malkajgiri branch of the bank.
Ramana Rao who had retired as Deputy Manager at Malkajgiri branch played a key role in the fraudulent withdrawal of deposits and has been charged under Sections 419, 420, 403, 465 and 120-B of the IPC. The judge of Special CBI Court in Nampally remanded the accused Ramana Rao in judicial custody till February 5.
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