Rs 743 crore fraud in IDBI, 3 cases filed by CBI

New Delhi, March 29: The CBI has filed three cases to probe alleged fraud worth Rs 743 crore committed by various persons by defaulting IDBI bank in Andhra Pradesh between 2009 and 2012 by availing Kisan Credit Card (KCC) and pisciculture loans which became non performing assets.

Of the total fraud, the separate FIRs mentioned loan amounts of Rs 394 crore, Rs 160 crore and Rs 189 crore which were disbursed as loan amount from IDBI's Palangi branch in the state's West Godavari district.

The FIRs named three common persons including B.K. Sahoo, and two senior IDBI officers -- R. Damodaran (retired Chief General Manager) and Battu Rama Rao (then Deputy General Manager).

There are a total of 44 other persons who are accused in these FIRs filed by the Central Bureau of Investigation (CBI) on Tuesday.