The Central Bureau of Investigation (CBI) in Hyderabad booked two firms for bank fraud case. Let us share in detail that both of these firms booked. Among both of these firms one is construction company and another firm is wholesale and retail distribution of textiles and footwear of international brands, booked by CBI for allegedly duping two different banks.
For your information let us share that A case registered against Suncorp Exim India Limited and three other persons under Section 120 B(Criminal Conspiracy) of Indian Penal Code (IPC) along with the provisions of Prevention of Corruption (PC) Act. In that case three persons fraudulently availed credit facilities and cheated the State of Bank of India to the tune of Rs 11.95 crore, the FIR said. The case was booked based on a complaint lodged by the bank’s Stressed Asset Management Branch II Deputy General Manager GV Sastry.
However, Here it is to be noted that the company is into the wholesale and retail distribution of textiles and footwear of international brands. In another case, the CBI registered a case against Aditya Constructions and its proprietor Maddala Ramesh Reddy for causing loss to Union Bank of India to the tune of Rs 11.39 crore plus interest.
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