The VIth Additional Chief Metropolitan Magistrate Court at Nampally on December 2, sentenced two individuals to seven years of rigorous imprisonment and imposed a fine of ₹30,000 each in a housing loan fraud case investigated by the Telangana CID.
The convicted persons – Vuppula Dasarath Netha, 57, and Vuppala Laxmi Bai, also known as Laxmi Devi, 50 – are residents of Nethaji Nagar, Erragadda.
According to an officer from the Telangana CID, the couple fraudulently obtained a housing loan of ₹24,00,199 from the State Bank of Hyderabad’s Air Cargo branch in 2007 by using forged and fabricated documents. “They impersonated the actual owner of the property, forged signatures and created a false agreement of sale cum GPA, which they managed to register. The loan pertained to an independent house at Jeedimetla,” said the officer.
Investigators said the accused carried out multiple sale registrations for the same property using fake documents and went on to secure additional loans from the State Bank of Mysore, Kukatpally branch, and Canara Bank, Kundanbagh branch. They later defaulted on all repayments, causing financial losses to the banks.
The CID arrested the accused and filed a chargesheet after collecting evidence that included forged deeds, registration records, handwriting samples and bank documents. During the trial, 17 witnesses were examined and 60 documents were produced before the court. The court convicted both under Sections 420, 468, 471 read with 120B of the Indian Penal Code.
The CID officials said the conviction reflects ongoing efforts to address financial fraud and hold those responsible accountable.
Published – December 03, 2025 07:51 pm IST
