Hyderabad: The Central Bureau of Investigation has booked Hyderabad based Janaki agro company and three others for duping a nationalized bank to the tune of Rs.3.44 crore.
Acting on a complaint filed by the bank, the CBI levelled criminal charges against the company and its representatives - Ramjee Adalla ,Peddapati Padmavathi, and others including Santosh Yadav.
The crime dates back to 2017, when Ramjee Adalla applied for a working loan of Rs 3 crore from Syndicate Bank (now Canara Bank), towards procuring agro products. Ramjee also availed a vehicle loan of Rs. 8.50 lakh from the branch in 2018 apart from availing adhoc/temporary overdraft of Rs. 30 lakh on the working capital later.
The company defaulted the bank by not remitting work bills towards OD account being maintained with the bank. Investigation found that, It siphoned off the business funds and failed to submit financial returns, stock statement and debtors list. False information was provided on outstanding stock, inventories,accounts receivable and non-payment of TOD in time.
Probe also found that accused Ramjee along with Santhosh Yadav forged various company documents and presented to the then Syndicate Bank, the FIR added.