CBI books Hyd-based construction company for alleged bank fraud
Cases were registered against its chairman and managing director Cherukuri Sridhar and another additional director Akkineni Satish, along with Rao, unknown public servants and others.
By Sruthi Vibhavari| Published: 18th December 2020 10:02 pm IST
Hyderabad: The Central Bureau of Investigation (CBI) on Friday registered a case against Hyderabad-based construction company Transstroy (India) Limited, for alleged bank fraud to the extent of Rs 7,926 crore. The bank is promoted by a former member of parliament and Telugu Desam Party leader Rayapati Sambasiva Rao.
According to an official release from the CBI, cases were registered against its chairman and managing director Cherukuri Sridhar and another additional director Akkineni Satish, along with Rao, unknown public servants and others.
CBI raids several locations in 2 separate bank fraud cases worth Rs 8,200 cr saharasamay.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharasamay.com Daily Mail and Mail on Sunday newspapers.
Central Bureau of Investigation HQ, in New Delhi.
| Photo Credit:
PTI
The FIR has been registered on a complaint from the Canara Bank, leader of a consortium of lenders.
The Central Bureau of Investigation (CBI) on Friday conducted searches against Hyderabad-based Transstroy (India) Limited, former Telugu Desam Party (TDP) MP Rayapati Sambasiva Rao and others in connection with a bank fraud case involving ₹7,926 crore.
Among those named as accused in the case are the company’s chairman-cum-managing director Cherukuri Sridhar; Mr. Rao, its additional director; and another additional director, Akkineni Satish. The FIR has been registered on a complaint from the Canara Bank, leader of a consortium of lenders.
CBI Raids TDP Leader Rayapati Sambasiva Rao Residence In Guntur Dec 18, 2020, 16:15 IST
GUNTUR: The Central Bureau of Investigation (CBI) on Friday carried out searches on the premises of former TDP MP Rayapati Sambasiva Rao at his native place in Guntur district. Special teams from New Delhi along with Andhra Pradesh CBI team were involved in these raids which started at 8 in the morning.
This was in connection with a bank fraud case and the sleuths are verifying various records pertaining to transactions of the Transstroy Company he owned. A few of his family members are said to be questioned in this regard.
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