Hyderabad: The Central Bureau of Investigation (CBI) has booked Hyderabad based Trinethra Infra venture limited in a 11.77 crore bank fraud case.
The investigating agency was acting based on an FIR registered by its Anti-Corruption-Bureau wing. The CBI has booked 10 accused in the case including the managing director. Others include P V V R R L N Prasad- the MD, Koteshwara Rao, Narsimha Rao, Subba Rao, K Ramana Shyam Kumar, Suresh Gupta, Venkatesh and associates, Avandhani, Venkatesha Dodderi and other unknown persons.
Investigation revealed that Trinethra Infra Ventures in collusion with the bank Valuer, panel advocate cheated the bank. The crime dates back to 2010, the accused hatched a plan to defraud IFCI limited to the tune of Rs 11.77 crore in the matter of sanction of factoring facility.
"Trinethra via its directors got sanctioned of factoring facility loan of Rs 15 crore and availed an amount of Rs 8 crore by way of execution of a purchase bill. However they submitted fake documents in respect of two immovable properties as mortgage in favour of IFCI. This fraud was done in connivance of the valuers and panel advocate of IFCI" the CBI said.
The infra company's MD and other have been booked under 120 b r/w, 409, 420, 468, 471 of Indian Penal Code and 13 (2) r/w 13(1) (d) of Prevention of Corruption Act.