Hyderabad: The Central Investigation Bureau has booked a company based in Hyderabad in connection with SBI loan fraud involving RS 218 Crore.
CBI Sleuth searches in Nandini Industries Private Ltd.
The search was made in three places in Hyderabad which caused recovery of several burdensome documents, the CBI said.
Nandini MD HARIDASS Ramesh, Director of Urvashi Ramesh and unknown civil servants are crowned as accused of this case.
This case was submitted following complaints by SBI, Secunderabad branch.
SBI approved the RS 9.5 Crore fund-based loan in July 2007, which was increased from time to time based on the terms of the working capital of the borrower.
The total fund-based and non-fund boundaries approved to the company are Rs 89.5 Crore.
The loan account was declared a NPA in March 2014 because it did not pay contributions to SBI.
From the total limit, RS 54.2 Crore was extraordinary in March 2014.
The number increased to Rs 218.2 Crore in March 2021, including interest.
“Companies that are accused of collusion with their subsidiaries and others use the transfer of loan production and for excessive loan results by sending increased invoices to the bank,” CBI said.