PNB loan fraud case: The High Court has granted bail to former Araku MP Kothapalli Geetha and her husband P. Ramakoteswara Rao in the case of defrauding the Punjab National Bank. The High Court heard the case on Friday and issued an interim order suspending the implementation of the CBI court verdict. The court granted bail by directing him to submit a personal surety of Rs.25 thousand. The next hearing in the case was adjourned to December 16.
Meanwhile, in the Punjab National Bank case, Kothapalli Geetha and her husband P. Ramakoteswara Rao were recently sentenced by the CBI court to five years in prison and a fine of Rs. The court has confirmed that a total fraud of Rs.42 crores has been committed. Along with the Geetha couple, bank officials BK Jayaprakasan and KK Aravindakshan have also been sentenced to five years in jail and the CBI court has issued a verdict imposing a fine of Rs.2 lakhs on Visvesvara Infra Private Limited.
However.. Challenging this verdict, Kothapalli Geetha couple approached the Telangana High Court. The trial court granted bail to the Geetha couple.
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