Hyderabad: A case was registered by the Central Bureau of Investigation (CBI) against Hyderabad-based VNR Infrastructure Limited, its Managing Director, and former directors for allegedly cheating Bank of Baroda (BoB), CFS branch, to the tune of Rs.62.01 crore.
Following a complaint lodged by BoB Deputy General Manager J Lalam, the premier investigating agency registered the case against the Managing Director, Vakati Narayan Reddy, Director and CFO Ganji Praveen Kumar and former directors R Srikanth Reddy, P Mahidhar Reddy, and late M Madhavaiah, besides VNR Infrastructure Limited.
According to the First Information Report (FIR), the officials of the company, which has its office at Road No.3, Banjara Hills, allegedly cheated the bank by siphoning off funds sanctioned for business purpose.
Authored by Mohammed Hussain
mohammedhussain.reporter@gmail.com