Hyderabad: The Hyderabad unit of Central Bureau of Investigation (CBI) has booked two separate cases against a construction company and another firm, which is into the wholesale and retail distribution of textiles and footwear of international brands, for allegedly duping two different banks.
It registered a case 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
The 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.
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.