CBI registers 2 complains regarding pisciculture loans: IDBI Bank

State-owned today said the CBI has registered cases in the two of the five complaints with regard to loans aggregating to Rs 772 crore for pisciculture.

It said in a regulatory filing, the had sanctioned pisciculture loans during the period from FY2009 to FY2013 at a few branches of erstwhile state of

Subsequently, these cases were parked in five branches -- Basheerbagh in Hyderabad, Guntur, Rajahmundry, and

"It was later discovered that some of these loans (52 aggregators with principal outstanding of Rs 772 crore) were fraudulently obtained by some industrialists who stood as common guarantor for these loans and were referred to as aggregators, by submitting fake lease documents of non-existent fish ponds," the said.

Further, the empanelled valuers also inflated the value of the collateral securities, it said.

"CBI has recently registered the cases for two of the five complaints filed with them in respect of the branches at Basheerbagh and

"CBI is, however, yet to register the cases filed by in respect of the remaining three branches at Rajahmundry, and Palangi," the bank, while in a clarification to stock exchanges.

The further said that it has already provided for these loans to the extent of 100 per cent and hence, there is no further impact of these accounts on the profitability / balance sheet of the

continues to pursue all legal actions to recover the dues from these borrowers, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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