CBI Registers Case against private company based in Hyderabad on allegation of causing loss of over Rs 4,736 crore

The Central Bureau of Investigation, CBI has registered a case against a private company based at Hyderabad and others including its Chairman and Managing Director on the allegation of causing loss of more than four thousand 736 crore rupees. The agency has registered the case on a complaint from State Bank of India and other banks. It was alleged that the accused in connivance with unknown public servants and others defrauded the



consortium of Banks. It was also further alleged that the borrower company based at Hyderabad during the period 2013-18 had indulged in falsification and fabrication of books of accounts and cheated the SBI and other banks. The agency said, searches were conducted at the residential and official premises of the accused at Hyderabad and Vijayawada which led to recovery of several incriminating documents and other evidences.