In a bank fraud case, the special judge in the CBI cases convicted ten people, including two Industrial Development Bank of India (IDBI) officials. An assistant general manager-cum-center head and a former assistant manager of the IDBI Vizag Retail Asset Center at Siripuram Junction were sentenced to two years in prison and fined Rs 30,000. The eight private individuals were sentenced to one year in prison and fined in various amounts.

According to the CBI investigation, IDBI Bank officials were involved in loan fraud. Officials sanctioned Rs 2.01 crore to ineligible borrowers in collusion with borrowers, panel valuers, engineers, and others by accepting forged income tax returns. They also ignored the negative CIBIL reports and failed to secure the property.

According to the investigation, the bank's norms and procedures were violated, resulting in a loss of Rs 2.01 crore to the bank. Chargesheets have been filed against all ten accused persons.