2 ex-railway staff convicted in loan fraud case
"Judge of the special CJM court (CBI), Vinod Bihari Sahu, pronounced the sentence against Sarat Chandra Das and Konari Rama Rao for securing housing loans of Rs 3 lakh each from a bank in Cuttack by submitting forged documents.
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The court has also imposed fine amount of Rs 3 lakh on each convict. The fine amount will be deposited in the bank as compensation," a CBI source said.
Das and Rao, who were charged by the CBI on Sept 27, 2007, were out on bail without arrest. "Das, previously a deputy station superintendent, and Rao, a former loco pilot, defaulted on the repayment, resulting in financial loss to the bank," the CBI source said.
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