One more held in Krushi Bank case

By Our Special Correspondent

HYDERABAD, SEPT. 15. CID officials have arrested an assistant manager of Krushi Bank, P. Gurumurthy, who was allegedly instrumental in releasing bogus loans to the tune of about Rs. 70 lakhs at the instance of bank chairman K. Venkateshwar Rao by fabricating loan papers.

A police press release issued here on Saturday said Gurumurthy had got the loans sanctioned with the help of computer administrator Satish and others.

Meanwhile, the chartered accountants hired by the CID and audit parties of the CID continued the scrutiny of the records with the help of the arrested bank officials.

Gurumurthy, who was carrying a reward of Rs. 50,000 on his head, would be produced before the magistrate on Sunday, the press release added.

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Section  : Southern States
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