IVRCL: 4800 Crore Bank Fraud Case Against Company
IVRCL: 4800 crore bank fraud case against Hyderabad-based company.
The Central Bureau of Investigation (CBI) on Wednesday called Hyderabad-based infrastructure company IVRCL, its managing director E. Sudhir Reddy and joint managing director R.K.
A case has been registered against Balarami Reddy for bank fraud of over Rs 4,800 crore. Officials said that the investigating agency also conducted a search operation on the company premises and the whereabouts of both the accused.
CBI spokesperson RC Joshi said that a case has been filed against the Hyderabad-based company and its directors on the basis of a complaint by the State Bank of India.
He said, ‘It was alleged that the accused along with other unknown bureaucrats and others cheated the union of public sector banks, including State Bank of India, IDBI Bank.
Canara Bank, Andhra Bank, Corporation Bank, Exim Bank, Punjab and Sindh Bank, Union Bank of India. Due to this, these banks incurred a huge loss of Rs 4,837 crore.
CBI alleged that the company committed fraud by not paying the installment of the loan received from banks. Joshi said that the company is also facing allegations of other financial irregularities.
He said that the offices and residential complexes of the accused in Hyderabad were searched and many important documents have been found in them.
Road Accident In Kerala: Early morning road accident in Kerala, vehicles collided with each other; 3 people died.
Three people died in a road accident in Kerala on the morning of 31 December. The accident occurred when lorries (lorries) collided with the car, including seven vehicles.
This road accident occurred near Kuthiran. Let me tell you that many people have died in road accidents in Kerala even before this.
Meanwhile, two buses collided in the Douki area on the Agra-Lucknow Expressway on Thursday morning due to fog. Passengers were seated in both buses.
After the collision, the passengers somehow got out after breaking the glass. Thankfully, the speed of the buses was low at the time of the collision.
That is why the big accident was averted. Two passengers were injured in the accident. He was sent to the hospital. Other passengers were sent to the destination by other buses.
