Loan fraud: SBI files case on Telangana BJP leader, son

HYDERABAD: Punjagutta police have registered a cheating case against BJP leader Nandeshwar Goud’s son Ashish Goud and his associate for cheating SBI as they failed to repay a loan of Rs 2.5 crore which they raised to run a pharma plant in 2018. The case which was referred to the police by a city court came to light on Saturday. The case has been registered against Sivanta Pharma, and its partners Thouti Sumanth and Ashish Goud, son Nandeshwar Goud.

According to the complainant, SBI SME Somajiguda branch, the accused approached the Bank at Bellavista Branch and represented that the firm they were hearing was engaged in trading of basic raw material to pharmaceuticals for manufacturing of active pharma ingredients and bulk drugs and requested sanction of credit facility Rs 2.50 crore. Ashish deposited the original and other title deeds of the property and created an equitable mortgage to their property at Goutham Nagar, Patancheru in favour of the bank.

After availing the necessary loan from the bank, the accused did not repay the loan amount. When bank officials visited the mortgaged property location, they were shocked to find that the property was found to be occupied by a third party and on inquiry, they have been informed that it was sold to them by Ashish Goud.