Hyderabad: The Hyderabad unit of the Central Bureau of Investigation (CBI) has discussed two separate cases against a construction company and another firm, which deals with the wholesale and retail distribution of textiles and shoes of international brands, because they believe two different banks have cheated.
It has filed a case against Suncorp Exim India Limited and three other persons under section 120B (Criminal Conspiracy) or Indian Penal Code (IPC), together with the provisions of the Anti-Corruption Act (PC).
The FIR fraudulently used the three persons to credit facilities and defrauded the State of Bank of India to 11.95 million. The case was discussed on the basis of a complaint lodged by the bank’s deputy general manager GV Sastry, of the bank’s Stressed Asset Management Branch II.
The company is engaged in the wholesale and retail distribution of textiles and shoes of international brands.
In another case, the CBI filed a lawsuit against Aditya Constructions and its owner Maddala Ramesh Reddy for causing a loss to India Bank of India amounting to 11.39 million plus interest.
Source: Telangana Today