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CBI Charges Hyderabad-Based Company In Over Rs 4,736 Crore Bank Fraud The company also allegedly gave wrong information on promoters' contribution, converted receivables from related parties to investments to siphon off bank funds. Updated: January 09, 2021 6:11 pm IST CBI has charged Coastal Projects Ltd and its directors in over a Rs 4,736 crore bank fraud New Delhi: The CBI has charged Hyderabad-based Coastal Projects Ltd and its directors in connection with over Rs 4,736 crore bank fraud in a consortium of banks led by the State Bank of India, officials said on Saturday. The complain...

CBI Books Hyderabad-based Coastal Projects Ltd in Over Rs 4,736 Cr Bank Fraud FOLLOW US ON: The CBI has booked Hyderabad-based Coastal Projects Ltd and its directors in connection with over Rs 4,736 crore bank fraud in a consortium of banks led by the State Bank of India, officials said on Saturday. The complaint from the SBI, now a part of the FIR, has alleged that the accused construction company, during the five year period between 2013 and 2018, falsified account books and financial statements to show unrealisable bank guarantee amounts as realisable investments, Central Bureau of Investi...

SBI's complaint alleged loss of over Rs 4,736 crore to consortium of banks New Delhi: On a complaint filed by the State Bank of India (SBI), the Central Bureau of Investigation (CBI) has filed a case against Hyderabad-based M/S Coastal Projects Limited for allegedly causing a loss of over Rs. 4736 crores to a consortium of banks. CBI conducted searches in Hyderabad and Vijayawada, at the premises of M/S Coastal Projects, it's Chairman and Managing Director Sabbineni Surendra and other directors. Several incriminating documents have been recovered as part of an ongoing probe which also accuses...

CBI books Hyderabad-based Coastal Projects Ltd in connection with Rs 4,736 crore bank fraud SECTIONS Last Updated: Jan 09, 2021, 04:36 PM IST Share Synopsis The complaint from the SBI, now a part of the FIR, has alleged that the accused construction company, during the five year period between 2013 and 2018, falsified account books and financial statements to show unrealisable bank guarantee amounts as realisable investments, Central Bureau of Investigation (CBI) spokesperson R C Joshi said. Wikipedia NEW DELHI: The CBI has booked Hyderabad-based Coastal Projects Ltd and its directors in co...

CBI books Hyderabad-based Coastal Projects, directors over Rs 4,736 crore bank fraud The construction company, during the five-year period between 2013 and 2018, falsified account books and financial statements to show unrealisable bank guarantee amounts as realisable investments PTI | January 9, 2021 | Updated 20:37 IST Central Bureau of Investigation (CBI) The CBI has booked Hyderabad-based Coastal Projects Ltd and its directors in connection with over Rs 4,736 crore bank fraud in a consortium of banks led by the State Bank of India, officials said on Saturday. The complaint from the SBI,...