RPD Blames Bank Officials For Giving Way To Cheaters

  • 11-Jan-2021
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RPD Odisha Chief Sushanta Sarbeswar slams the activities of bank officials behind the bank fraud. On Saturday, The Central Bureau of Investigation (CBI) registered a case against a Hyderabad-based company named Coastal Projects Ltd and its directors in connection for defrauding State Bank of India-led consortium of banks to the tune of Rs 4,736.57 crore. Rastriya Parivartan Dal (RPD) reacts that no man or company can be able to cheat any bank without the involvement of its officials. Sushanta says, Banks are showing their irresponsibilities towards public money, both in safety and investment major. 

According to a CBI official, the investigating agency booked Coastal Projects Ltd, its Chairman and Managing Director and guarantor Sabbineni Surendra, MD and guarantor Garapati Harihara Rao, Whole-Time Director and Director Finance Sridhar Chandrasekharan Nivarthi, Whole-Time Director Sharad Kumar, Guarantor and Mortgagor A.K. Ramulu, K. Anjamma, Ravi Kailas Builders Pvt Ltd represented by its Managing Director/Director Ramesh Pasupuleti and Govind Kumar Inani and unknown public servants and others.


The agency registered a case on a complaint from State Bank of India (SBI) on behalf of other member banks -- IDBI Bank, Canara Bank, BOB, BOM, PNB, UBI, EXIM Bank -- for causing an alleged loss of Rs 4,736.57 crore to the banks.