It said in a regulatory filing, the bank had sanctioned pisciculture loans during the period from FY2009 to FY2013 at a few branches of erstwhile state of Andhra Pradesh.
Subsequently, these cases were parked in five branches -- Basheerbagh in Hyderabad, Guntur, Rajahmundry, Bhimavaram and Palangi.
"It was later discovered that some of these loans (52 aggregators with principal outstanding of Rs 772 crore) were fraudulently obtained by some industrialists who stood as common guarantor for these loans and were referred to as aggregators, by submitting fake lease documents of non-existent fish ponds," the bank said.
Further, the empanelled valuers also inflated the value of the collateral securities, it said.
"CBI has recently registered the cases for two of the five complaints filed with them in respect of the branches at Basheerbagh and Guntur.
"CBI is, however, yet to register the cases filed by IDBI Bank in respect of the remaining three branches at Rajahmundry, Bhimavaram and Palangi," the bank, while in a clarification to stock exchanges.
The bank further said that it has already provided for these loans to the extent of 100 per cent and hence, there is no further impact of these accounts on the profitability / balance sheet of the bank.
Bank continues to pursue all legal actions to recover the dues from these borrowers, it added.
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