The Special Judge, CBI Court, Hyderabad, Telangana has convicted and sentenced T. Chandrakanth, the then Senior Manager, Corporation Bank, Banjara Hills Branch, Hyderabad, Telangana to Two Years Rigorous Imprisonment (RI) with a fine of Rs. 20,000/- and 6 borrowers (private persons) namely VNSC Bose, V. Rajansri, Konda Sekhar Reddy, NVP Nanda Kishore and H. Raja Sekhar Reddy to One Year Rigorous Imprisonment (RI) with total fine of Rs. 55,000/- in a bank fraud case of Rs. 4.9 Crore.
In 2019, finance minister Nirmala Sitharaman announced that Corporation Bank and Andhra Bank would be merged into the Union Bank of India.
The Central Bureau of Investigation (CBI) registered the case on 29.09.2004 against T. Chandrakanth, SR. Manager, Corporation Bank, Banjara Hills, Hyderabad, Telangana and 16 others for cheating Corporation Bank in the matter of sanction and disbursement of housing loans aggregating to the tune of Rs. 4.9 Crores on the basis of false and fictitious documents.
After investigation, CBI filed chargesheet on 30.03.2007 against T. Chandrakanth, the then Senior Manager, Corporation Bank, Banjara Hills Branch and 11 others. After the trial, the Hon’ble Court convicted seven accused persons and sentenced them accordingly on 24.10.2025.
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