Srujana Chowdary moves Telangana HC against look-out-notice

By Newsmeter Network  Published on  13 Nov 2020 11:45 AM GMT
Srujana Chowdary moves Telangana HC against look-out-notice

Hyderabad: Former Union Minister and Rajya Sabha MP Srujana Chowdary has moved the Telangana High Court with a plea to quash a look out notice issued against him by the Bureau of Immigration.

The parliamentarian was reportedly stopped at the Delhi Airport in connection with a bank fraud case booked by the Central Bureau of Investigation.

The writ petition is of a prayer that the High Court issue an order or direction more particularly one in the nature of writ of Mandamus. His plea said, " The look out notice issued by the respondent (Bureau of Immigration) is illegal and contrary to the law as abuse of authority". The Enforcement Directorate and Central Bureau of Investigation have been made a party.The High Court has posted the hearing 16th of November before Judge Challa Kodanda Ram.

The Former minister was booked in a multi-crore fraud case. The Banking Security and Fraud Cell of Bengaluru CBI is investigating the case.

The investigating agency has filed three FIRs based on complaints from three banks that Best and Crompton Engineering Projects Limited, Chennai, owned by Mr Chowdary, caused a total loss of Rs 364 crore by obtaining loans after submitting false statements and accounts.

The total loss caused by the MP's company is Rs 133 crore to the Central Bank of India, Rs 71 crore to Andhra Bank and Rs 159 crore to the Corporation Bank.

Based on the CBI's FIR, The sleuths of Enforcement Directorate took up investigation under the Prevention of Money Laundering Act (PMLA).

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