Hyderabad: The Central Bureau of Investigation (CBI) booked YSRCP Parliamentarian Kanumuru Raghurama Krishnam Raju, in an alleged Rs 826 Crore Bank fraud. The MP and 10 others are accused of diverting funds approved for a thermal power company.
The central investigating agency were acting based on a complaint filed by Saurabh Malhotra –Chief Manager of the Punjab National Bank.
Sleuths of CBI, on 7th October, carried out searches at 11 locations in Mumbai and Hyderabad including the head-quarters of IND-Barath House located in Secunderabad.
According to the records, Ind-Barath Thermal Power Limited was incorporated in 2007 .The company has 3 directors and the longest serving director currently on board is Boppana Sowjanya who was appointed on 05 September, 2017. And the most recently appointed directors are Veeravenkata Satyanarayana Rao Vadlamani and Vissapragada Perraju.
Investigation found that the directors diverted funds (loan amount) to the tune of Rs 826 Crore.
The other accused include, Kotagiri Indira Priyadarshini, Gopalan Manoharan-additional director, Sitaraman Komaragiri – Managing director, Narayana Prasad Bhagavathula, Namburi Kumaraswamy, director, Boppana Sowjanya, Veeravenkata Satyanarayana and Vissapragada Perraju.
The CBI has booked them under 120 -B and 420 of the Indian Penal Code.