CBI sleuths in Hyderabad identified promoters of the company, booked under sections 120-b, 420, 468, 471 and 477-A of the IPC, as Thota Kanna Rao and his wife Venkataramani.
The Central Bureau of Investigation (CBI) has enlisted a body of evidence against Sri Krishna Stockists and Traders based out of I. Pangidi in West Godavari locale for cheating Canara Bank of Rs 338 crore.
CBI investigators in Hyderabad recognized advertisers of the organization, booked under 120-b r/w 420, 468, 471 and 477-A segments of the IPC, as Thota Kanna Rao and his significant other Venkataramani. The firm, which appeared in 2009 for exchanging maize and neem seeds, was authorized Rs. 35 crore by Indian Bank and one more Rs. 30 crore by IDBI Bank as working capital advance.
Later, the company secured a loan from Canara Bank to increase its working capital, for which the promoters allegedly submitted fake documents and audit balance sheets. Later, they diverted the funds to other activities. According to the FIR, the promoters belong to Rajamahendravaram. The CBI has seized all their assets.
Comments