Ramakoteswara Rao, the husband of former MP Geetha, is the main accused in this case. Geetha A4 is the accused. Along with them, the CBI says bank officials Jayaprakash, Aravindakshan and Rajkumar are accused. The second accused, Jayaprakash, was acquitted as he died while the case was pending. The Chief Justice of the Special CBI Court which investigated the case gave the verdict.
Ramakoteshwara Rao, Geetha and Rajkumar were sentenced to five years imprisonment and a fine of Rs. Aravindakshan was sentenced to five years in prison and fined Rs.75,000. The court said that all the punishments should be executed simultaneously. If the fine is not paid, they will have to undergo an additional 6 months of simple imprisonment. Also to Vishveshwara Infrastructure Private Limited at the rate of Rs. 2 lakhs fined. After the verdict of the CBI court, medical tests were conducted for the accused at Osmania Hospital. Later they were taken to Chanchalguda Jail.
Meanwhile, former MP Kothapally Geetha challenged the CBI court verdict. Her husband Ramakoteswara Rao, Visveswara Infrastructure Private Limited, S. Rajkumar approached the High Court. The CBI court sought to stay the execution of the sentence and grant bail. Separate petitions have been filed.. Hearing on these petitions is likely to be held today.