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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
CBI Detects Two New Bank Frauds Worth Rs 8,239 79 Crore; Firms In Hyderabad, Chennai Booked
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The CBI has booked Hyderabad-based Transstroy (India) Ltd and its directors for alleged bank fraud of over Rs 7,926 crore in a consortium led by Canara Bank, in one of the biggest banking scams in the country, officials said on Friday. The agency carried out searches at the premises of the company and the accused directors, including former Telugu Desam Party (TDP) MP Rayapati Sambasiva Rao, which led to the recovery of incriminating documents, its spokesperson said in a statement. Rao, an additional director in the company, has been named in the FIR as accused, besides the company, its chairman-cum-managing director Cherukuri Sridhar and another additional director Akkineni Satish. It was alleged that the private firm based in Hyderabad and its directors had availed credit facilities on multiple banking arrangements.
CBI books Hyderabad-based Transstroy (India) Ltd for Rs 7,926-crore bank fraud, carries out searches
NEW DELHI: The CBI has booked Hyderabad-based Transstroy (India) Ltd and its directors for alleged bank fraud of over Rs 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.
The agency carried out searches at the premises of the company and the accused directors which led to the recovery of incriminating documents, its spokesperson said in a statement.
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. (AGENCIES)