CBI books directors of Hyderabad-based private company, others for duping SBI of Rs 173.76 crore
Mar 11, 2021
New Delhi [India], March 11 : The CBI on Thursday said that it has booked a Hyderabad-based private company and others including its directors and unknown public servants and private persons for duping the SBI to the tune of Rs 173.76 crore.
The Central Bureau of Investigation (CBI) said that it has registered a case on the allegations that the company had availed various loan facilities from December 26, 2003, to December 31, 2010, from the State bank of India (SBI), Commercial Branch, Hyderabad under consortium arrangement.
According to the CBI, the company had allegedly defaulted in the payment of interest and instalments, hence, the account was classified as a non-performing asset (NPA) on August 30, 2011.
It was further alleged that the accused diverted funds and manipulated books of accounts, causing loss to the tune of Rs 173.76 crore (approx) to the bank.
The CBI stated that searches were conducted at two places in Hyderabad and one place in Chennai including the office and residential premises of the accused which led to the recovery of some incriminating documents.
