CBI raids several locations in 2 separate bank fraud cases worth Rs 1,000 crore
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Send A CBI official said that the agency has registered a case against Hyderabad-based Transstroy (India) Ltd, its chairman and managing director Cherukuri Sridhar, Additional directors Rayapati Sambasiva Rao and Akkineni Satish, unknown public servants and unknown others on a complaint from Canara Bank.
Chennai:
The Central Bureau of Investigation (CBI) on Friday carried out searches at several locations in Hyderabad, Guntur and Tamil Nadu in connection with two separate cases of bank frauds involving amounts to the tune of Rs 7,926.01 crore and Rs 313.79 crore respectively, officials said.
Rayapati’s firm booked for Rs 7,926 cr bank fraud DECCAN CHRONICLE.
Updated Dec 19, 2020, 12:30 am IST
Searches were conducted on premises of Transtroy and the accused at Hyderabad and Guntur, which led to recovery of incriminating documents
The accused misappropriated bank funds and allegedly diverted the loan amount sanctioned by the banks and caused loss of approximately Rs 7,926.01 crore to Canara Bank.
Hyderabad: The CBI has registered bank fraud case to the tune of Rs 7,926.01 crore on Friday, the biggest so far in India, against the Hyderabad-based Transstroy India Ltd of former MP Rayapati Sambasiva Rao.
The CBI booked Transstroy’s CMD Cherukuri Sridhar, additional directors Sambasiva Rao and Akkineni Satish, among others on a complaint filed by Canara Bank.
CBI books Hyd firm for bank fraud hindustantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hindustantimes.com Daily Mail and Mail on Sunday newspapers.
CBI books Hyderabad-based firm for ₹7,926-cr bank fraud
The CBI has named the company, its chairman-cum-managing director Cherukuri Sridhar and additional directors Rayapati Sambasiva Rao and Akkineni Satish in the FIR
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. Updated: 18 Dec 2020, 08:49 PM IST PTI
It was alleged that the Transstroy (India) Ltd and its directors had availed credit facilities on multiple banking arrangements from consortium formed with other banks led by Canara Bank
This is quite possibly the biggest banking scam in the country so far surpassing the amount misappropriated by diamantaire Nirav Modi
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New Delhi: The CBI has booked Hyderabad-based Transstroy (India) Ltd and its directors for alleged bank fraud of over ₹7,926 crore in a consortium led by Canara Bank, in the biggest banking scam in the country so far surpassing the amount misappropriated by diamantaire Nirav Modi, officials said on Friday.
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CBI Trabsstory Bank Fraud Of RS.7926 Crore(Approx)
Searches were conducted at the premises of private company/other accused at Hyderabad and Guntur, which led to recovery of incriminating documents.
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The Central Bureau of Investigation has registered a case related to Bank Fraud to the tune of Rs.7926.01 crore(approx)
The case has been registered against Hyderabad based private company and others including its CMD, Additional Directors, unknown public servants & unknown others on a complaint from Canara Bank.
It was alleged that the private firm based at Hyderabad and its directors had availed credit facilities on multiple banking arrangements. The consortium was formed with other banks, led by Canara Bank. It was further alleged that the accused had involved in falsification / fabrication of books of accounts, fudging of stock statements, tampering of balance sheets, round tripping of funds etc. It was also alleged that the accused misap