New Delhi/Hyderabad (Face2News)
The Central Bureau of Investigation has registered a case against a Hyderabad based private company and others including its Directors & unknown public Servants/Private persons on the allegations that the company had availed various loan facilities from 26.12.2003 to 31.12.2010 from SBI, Commercial Branch, Hyderabad under consortium arrangement.
It was further alleged that the Company had defaulted in payment of interest & instalments, hence, the account was classified as NPA on 30.08.2011. It was also 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.
Searches were conducted at two places in Hyderabad and one place at Chennai including office & residential premises of the accused which led to recovery of some incriminating documents. Investigation is continuing.