CBI books Hyderabad-based firm for alleged bank fraud of Rs 7,926 crore
The country s premier investigation agency has named Transstroy, its chairman-cum-managing director Cherukuri Sridhar and additional directors Rayapati Sambasiva Rao and Akkineni Satish in the FIR and alleged that loans were misappropriated by the directors
BusinessToday.In | December 20, 2020 | Updated 00:23 IST
The FIR has been registered based on a complaint by Canara Bank, leader of a consortium of lenders, its spokesperson said in a statement
The Central Bureau of Investigation (CBI) has registered a case against Hyderabad-based Transstroy (India) Ltd, its promoter and former Telugu Desam Party (TDP) MP Rayapati Sambasiva Rao, and other directors for allegedly cheating a consortium of banks led by Canara Bank of Rs 7,926 crore, officials said on Friday.
CBI raids several locations in bank fraud cases worth Rs 8,200 crore orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
India’s Biggest Banking Scam: Rs 7926 Crore Published by GulteDesk December 19, 2020
The Central Bureau of Investigation booked Hyderabad-based Transstroy (India) Ltd, its promoter and former TDP MP Rayapati Sambasiva Rao for an alleged bank fraud of Rs 7926.01 crore in a consortium, led by Canara Bank.
This is the biggest banking scam in the country so far surpassing the amount misappropriated by diamantaire Nirav Modi, the CBI officials said.
Transstroy (India) Ltd was engaged in execution of major irrigation and infrastructure projects, including the mega Indira Sagar Polavaram Project in Andhra Pradesh.
The CBI, in its FIR, named the company, its CMD Cherukuri Sridhar and additional directors Rayapati Sambasiva Rao and Akkineni Satish as accused. The former MP was booked in two cases relating to the alleged fraud with the second amounting to Rs 313.79 crore approximately. It is alleged that the private firm based in Hyderabad had availed credit facilities on multi
CBI raids several locations in Transstroy and Agnite Education bank frauds worth Rs8,200 crore
IANS
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The Central Bureau of Investigation (CBI) has filed cases against a Hyderabad-based company, Transstroy (India) Ltd, for allegedly cheating a consortium of banks of Rs 7,926 crore, and against a Chennai based company for cheating the bank to the tune of Rs 313.79 crore, officials said on Friday.
According to officials, fugitive diamantaire Nirav Modi, who is currently lodged in a UK jail and is facing extradition charges, is wanted in the Punjab National Bank fraud case for cheating the bank to the tune of Rs 7,700 crore.
Today Telugu News Headlines 19th December 2020 sakshi.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sakshi.com Daily Mail and Mail on Sunday newspapers.