Former Lok Sabha MP from Araku, Kothapalli Geetha has been arrested by the Central Bureau of Investigation (CBI) in a bank loan default case. The CBI court has sentenced Geetha to five years imprisonment and imposed a fine of Rs 1 Lakh.
This case dates back to 2015. On June 30th the same year, the CBI filed a chargesheet against Geetha and her Husband, P Ramakoteswara Rao. Geetha’s husband was the managing director of Visweswara Infrastructure, and this company defrauded a branch of the Punjab National Bank (PNB) in Hyderabad up to Rs 52 crore. After arresting Geetha, the CBI brought her to Osmania hospital for medical tests.
From media reports we hear that the CBI will move Geetha to Bengaluru and they are seeking approvals from courts and concerned authorities. On the other hand Geetha’s advocates have approached the Telangana High Court for bail. The advocates of Geetha have requested the court to take up the bail petition on an emergency basis. It is unclear whether this petition will come for hearing today.
On December 30th, 2008, Geetha and her husband Rao secured a loan of Rs 25 crore from PNB’s Large Corporate Branch, Banjara Hills, Hyderabad. This became a non-performing asset the following year i.e on December 31st, 2009. Rao attempted to return the borrowed amount but the cheque bounced. Following this PNB sued Geetha and Rao. But the court acquitted ex-MP Geetha. Yet the case took many twists and turns and finally she was detained by the CBI and the court sanctioned her jail punishment.
Tags Kothapalli Geetha