CHENNAI: The anti-corruption branch of the CBI, Chennai, has booked a city-based couple for corruption and cheating based on a complaint filed by Punjab National Bank, which had given them a loan of 4 crore. The case was filed on Tuesday.
The bureau said a complaint was lodged with them on August 7 against husband and wife S Prashanth and Nithya, who were partners of Sri Krish Associate.
PNB in the complaint said the couple had submitted their financial credentials along with the firm's projections for the 4 crore loaned to them in February and June 2018 for purchase of construction material. Cash credit was sanctioned for working capital requirements against primary security of hypothecation of all stocks and the loan was also secured against five immovable properties.
PNB claimed that the duo failed to divulge details of business turnover, stock statements and other financial statements once the loan was sanctioned and that it learned that they did not perform any business operation after securing the loan. False documents were allegedly submitted to avail the term loan itself, PNB said, adding that they caused a loss of 5.69 crore.