ED attached assets worth over Rs 20 crore in IDBI Bank loan fraud case

Enforcement Directorate, ED has attached assets worth over 20 crore rupees in IDBI Bank loan fraud case. The investigation was initiated on the basis of FIRs registered by the Central Bureau of Investigation, Anti Corruption Branch, Visakhapatnam and Hyderabad against the accused for fraudulently availing Kisan Credit Card loans from IDBI Bank for fish



farming.

ED said the investigation revealed that four aggregators conspired with Chandra Sekhar Harish Chennappagari, the then Manager of IDBI Bank, Guntur branch. The aggregators fraudulently availed Kisan Credit Card loans totaling to over 57 crore rupees from IDBI Bank for fish farming in the names of 247 borrowers.