According to the FIR filed by Superintendent of Police, CBI, Bangalore, Naidu allegeldy entered into a criminal conspiracy with Branch Manager of Andhra Bank and others and dishonestly and fraudulently obtained term loan of Rs 41 crore from the bank.
He had furnished fake documents of qualifications, financial status and discrepant financial statements and caused a wrongful loss to the bank to the tune of Rs 57.64 crore, it was alleged.
According to Naidu, he had passed the final year MBBS exam held in January, 1981 and was declared competent and authorised to practice medicine and general surgery.
But on verification, it was found that the certificate he produced was "only fake."
Justice T Sudanthiram in his order said "the allegations made in the complaint by the General Manager, Andhra Bank are strengthened by materials collected during investigation made so far."
"The contentions raised by the senior counsel for the petitioner to quash the FIR are totally unacceptable. Hence, the petition is dismissed," he said.