CBI Raids Several Locations in 2 Separate Bank Fraud Cases Worth Rs 1,000 Crore
A CBI official said that the agency has registered a case against Hyderabad-based Transstroy (India) Ltd, its chairman and managing director Cherukuri Sridhar, Additional directors Rayapati Sambasiva Rao and Akkineni Satish, unknown public servants and unknown others on a complaint from Canara Bank.
The Central Bureau of Investigation (CBI) on Friday carried out searches at several locations in Hyderabad, Guntur and Tamil Nadu in connection with two separate cases of bank frauds involving amounts to the tune of Rs 7,926.01 crore and Rs 313.79 crore respectively, officials said.
A CBI official said that the organization has enlisted an argument against Hyderabad-based Transstroy (India) Ltd, it’s executive and overseeing chief Cherukuri Sridhar, Additional chiefs Rayapati Sambasiva Rao and Akkineni Satish, obscure community workers, and obscure others on a grievance from Canara Bank.
The authority said that it was asserted that the private firm based at Hyderabad and its chiefs had benefited credit offices on numerous financial courses of action. The consortium was shaped with different banks, driven by Canara Bank, the authority said.
The authority said it was additionally affirmed that the blamed had been engaged with misrepresentation for books of records, fudging of stock articulations, altering of asset reports, round stumbling of assets, and so forth
The authority said that the blame abused bank reserves and redirected the credit sum authorized and caused the loss of Rs 7,926.01 crore to Canara Bank and other part banks. The record had become NPA and the misrepresentation was accounted for.
“Searches were directed at the premises of the organization and other denounced at Hyderabad and Guntur, which prompted recuperation of implicating archives,” the authority said.
Then, the subsequent body of evidence has been enlisted against Chennai-based Agnite Education Ltd., its executive K. Balasubramaniam, chief K. Padmanabhan, obscure local officials, and private people on an objection from State Bank of India.
In the grumbling, it has been claimed that the borrower organization spoke to by its Chairman and Director profited Credit cutoff points of Rs 310 crore from SBI.
Nonetheless, the credit sums were redirected to related gatherings and the record became NPA and pronounced as extortion, the authority said.
The CBI did look at the premises of the charge at Chennai which prompted recuperation of implicating reports.
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