Hyderabad: Cyberabad Economic Crimes Wing A case involving fraud of Rs 24 crore has been registered united bank of indiaof Ramachandrapuram Branch. The case was officially transferred from RC Puram police station on October 5 and involves the following charges: Cheatingforgery, conspiracy to commit crimeand breach of trust.
The complaint was lodged by Murthy Kote Srinivasa, assistant general manager of Union Bank Punjaguta regional office. property.
Companies involved in the fraud include RK Media Promotions (allegedly defrauding banks of Rs 225 crore) and SVK Traders (allegedly defrauding banks of Rs 266 crore). Divya Argo Food Products has been accused of defrauding banks of Rs 217 crore, while Sai Sri Balaji Traders reportedly committed fraud worth Rs 20.2 crore.
Another company, Best C Mobiles Sales and Services, allegedly defrauded banks of Rs 204 crore, while SMR Granites Pvt Ltd was accused of misappropriating Rs 319 crore. Rana Enterprises allegedly committed a fraud of Rs 235 crore, while Pardha Granite Industries committed a fraud of Rs 29.7 crore. Vaishnavi Granite Industries has also been accused of committing a fraud amounting to Rs 193 crore.
Other companies, including YMMAR Pharma Chem and Sri Venkateshwara Oil and Food Products, are also being investigated for their involvement in the incident. Fraudulent activities.
The fraud came to light in March 2021, triggering greater scrutiny from authorities. The case revolves around allegations of conspiracy and defaulted loans, and investigators are now working to uncover the full extent of the scandal.
