The Special Judge for CBI cases, Hyderabad, on Friday convicted two officials of the Indian Overseas Bank (IOB) and seven others of a fraud conspired and committed in 2003.
The then Chief Manager of IOB at Hyderabad main branch Souman Chakraborthy along with his senior manager Sankaraman Padmanabhan and several others had sanctioned 13 housing loans based on fake IT returns, lapsed LIC policies and fake title deeds as collateral security.
The CBI registered the case on November 11, 2005.
