CBI books Hyderabad-based Coastal Projects Ltd in over ₹4,736 cr bank fraud

[Ryzen_renoir]

The Central Bureau of Investigation (CBI) on Saturday said it has registered a case against a Hyderabad-based company, including its Chairman and Managing Director and Guarantor, Managing Director and Guarantor, and other directors for defrauding State Bank of India-led consortium of banks to the tune of Rs 4,736.57 crore, and carried out searches at several locations.

A CBI official here said that it booked Coastal Projects Ltd based at Hyderabad, its Chairman and Managing Director and guarantor Sabbineni Surendra, MD and guarantor Garapati Harihara Rao, Whole-Time Director and Director Finance Sridhar Chandrasekharan Nivarthi, Whole-Time Director Sharad Kumar, Guarantor and Mortgagor A.K. Ramulu, K. Anjamma, Ravi Kailas Builders Pvt Ltd represented by its Managing Director/Director Ramesh Pasupuleti and Govind Kumar Inani and unknown public servants and others.

The official said that the agency registered a case on a complaint from State Bank of India on behalf of other member banks — IDBI Bank, Canara Bank, BOB, BOM, PNB, UBI, EXIM Bank — for causing an alleged loss of Rs 4,736.57 crore to the banks.

The official said that the bank in its complaint alleged that the accused in connivance with unknown public servants and others defrauded the consortium of banks.

“The account became NPA on January 25, 2017 with retrospective effect from October 28, 2013 and reported as fraud on February 20 last year,” he said.

He said that it was also alleged that the borrower company based at Hyderabad during the period 2013-18 had indulged in falsification/fabrication of books of accounts, manipulations/falsification of the financials to show unrealisable invoked BG amounts as realisable investments, falsified details of promoters’ contribution, converted receivables from related parties to investments to siphon off the banks’ funds, cheating the SBI and other consortium member banks.

“Searches were conducted at the residential and official premises of the accused at Hyderabad and Vijayawada which led to recovery of several incriminating documents and other material evidences,” the official added.

[Ryzen_renoir]

Evari batch veelu ?  KCR ? Jaffa ? Pulka ? 

[chandrabhai7]

3 minutes ago, Ryzen_renoir said:

Evari batch veelu ?  KCR ? Jaffa ? Pulka ? 

Neni batch. You know who. 

[Ryzen_renoir]

12 minutes ago, chandrabhai7 said:

Neni batch. You know who. 

Caste kadhu party , ippudu Akhila Priya Jaffa antey correct aa ? 

Nimmagada Prasad pulka  avuthada ? 

[Hydrockers]

39 minutes ago, Ryzen_renoir said:

Caste kadhu party , ippudu Akhila Priya Jaffa antey correct aa ? 

Nimmagada Prasad pulka  avuthada ? 

Frst question bane adigav but second di correct ee ga ani @kidney annadu

[kamandalamjalam1]

2 hours ago, Ryzen_renoir said:

Evari batch veelu ?  KCR ? Jaffa ? Pulka ? 

*neni and *pati families.

Inkaa answers kavaala?

[kamandalamjalam1]

1 hour ago, Ryzen_renoir said:

Caste kadhu party , ippudu Akhila Priya Jaffa antey correct aa ? 

Nimmagada Prasad pulka  avuthada ? 

Chembu shape and type yeedhi aina andhulo pooseedhi same water.

Atlaane party yeedhi aina *neni, *pati families dhe motham money control antha...

[Joker23]

Andhrolla Kutra. 

[kamandalamjalam1]

11 hours ago, Ryzen_renoir said:

The Central Bureau of Investigation (CBI) on Saturday said it has registered a case against a Hyderabad-based company, including its Chairman and Managing Director and Guarantor, Managing Director and Guarantor, and other directors for defrauding State Bank of India-led consortium of banks to the tune of Rs 4,736.57 crore, and carried out searches at several locations.

A CBI official here said that it booked Coastal Projects Ltd based at Hyderabad, its Chairman and Managing Director and guarantor Sabbineni Surendra, MD and guarantor Garapati Harihara Rao, Whole-Time Director and Director Finance Sridhar Chandrasekharan Nivarthi, Whole-Time Director Sharad Kumar, Guarantor and Mortgagor A.K. Ramulu, K. Anjamma, Ravi Kailas Builders Pvt Ltd represented by its Managing Director/Director Ramesh Pasupuleti and Govind Kumar Inani and unknown public servants and others.

The official said that the agency registered a case on a complaint from State Bank of India on behalf of other member banks — IDBI Bank, Canara Bank, BOB, BOM, PNB, UBI, EXIM Bank — for causing an alleged loss of Rs 4,736.57 crore to the banks.

The official said that the bank in its complaint alleged that the accused in connivance with unknown public servants and others defrauded the consortium of banks.

“The account became NPA on January 25, 2017 with retrospective effect from October 28, 2013 and reported as fraud on February 20 last year,” he said.

He said that it was also alleged that the borrower company based at Hyderabad during the period 2013-18 had indulged in falsification/fabrication of books of accounts, manipulations/falsification of the financials to show unrealisable invoked BG amounts as realisable investments, falsified details of promoters’ contribution, converted receivables from related parties to investments to siphon off the banks’ funds, cheating the SBI and other consortium member banks.

“Searches were conducted at the residential and official premises of the accused at Hyderabad and Vijayawada which led to recovery of several incriminating documents and other material evidences,” the official added.

 

Same stories again and again. Only the names of the fraudsters change. Everything else remain the same.

Consortium, Falsified, Incriminating Documents, Fraud, NPA, Alleged, Public Servants, Connivance, *neni, *pati

Same words and same Modus Operandi.

Not even a single paisa will be recovered. After few years if and when the case concludes, the Court will impose a fine of Rs.1500 and 6 months jail. Everyone will be scot free and people like Rayapati Sambasiva Rao can start the business again

 

[snoww]

2013 lo NPA ga declare sesei 2020 lo fraud ani discover sesaru anta. Saala fast gaa work sesaru.

[Ryzen_renoir]

1 hour ago, snoww said:

2013 lo NPA ga declare sesei 2020 lo fraud ani discover sesaru anta. Saala fast gaa work sesaru.

2013 to 2018 

[snoww]

2 hours ago, Ryzen_renoir said:

2013 to 2018 

The account became NPA on January 25, 2017 with retrospective effect from October 28, 2013 and reported as fraud on February 20 last year,” he said.

[snoww]

కోస్టల్‌ ప్రాజెక్ట్స్‌ సురేంద్రపై సీబీఐ కొరడా 

11 Jan, 2021 03:49 IST|Sakshi

ఎస్‌బీఐ కన్సార్టియం నుంచి రూ.4,736.57 కోట్లు కొల్లగొట్టిన కేసు

తెలంగాణ, ఏపీలో సోదాలు..

కీలక పత్రాలు స్వాధీనం..

సంస్థ చైర్మన్‌ సబ్బినేని సహా పలువురు డైరెక్టర్లపై కేసులు

సాక్షి, అమరావతి: బ్యాంకులను బురిడీ కొట్టించి వేల కోట్లు కొల్లగొట్టిన మరో బడా సంస్థపై కేంద్ర దర్యాప్తు సంస్థ కొరడా ఝుళిపించింది. పవర్‌ ప్రాజెక్టులు, మినీ డ్యామ్‌లు, వాటర్‌ సప్లయి స్కీమ్స్, రహదారులు వంటి నిర్మాణాలు చేపట్టే ప్రముఖ సంస్థ అయిన కోస్టల్‌ ప్రాజెక్ట్స్‌ లిమిటెడ్‌పై సీబీఐ దాడులు నిర్వహించింది. స్టేట్‌ బ్యాంక్‌ ఆఫ్‌ ఇండియా (ఎస్‌బీఐ) కన్సార్టియం ఫిర్యాదుతో కేసు నమోదు చేసిన సీబీఐ.. రెండు తెలుగు రాష్ట్రాల్లో విస్తృతంగా సోదాలు జరిపింది.

ప్రధానంగా విజయవాడ, హైదరాబాద్‌లలో శనివారం, ఆదివారం దాడులు నిర్వహించింది. ఈ సోదాల్లో పలు కీలక పత్రాలు, హార్డ్‌డిస్క్‌లు, పలు ముఖ్యమైన ఆధారాలు సేకరించింది. వివరాలివీ.. హైదరాబాద్‌ జూబ్లీహిల్స్‌ కేంద్రంగా ఉన్న కోస్టల్‌ ప్రాజెక్ట్స్‌ లిమిటెడ్‌ సంస్థ.. ఎస్‌బీఐ నేతృత్వంలోని ఐడీబీఐ, కెనరా బ్యాంక్, బ్యాంక్‌ ఆఫ్‌ బరోడా, బ్యాంక్‌ ఆఫ్‌ మహారాష్ట్ర, పంజాబ్‌ నేషనల్‌ బ్యాంక్, యూబీఐ, ఎగ్జిమ్‌ బ్యాంకుల కన్సార్టియం నుంచి రూ.4,736.57 కోట్లు రుణం తీసుకుంది. వీటిని తిరిగి చెల్లించకుండా అవకతవకలకు పాల్పడింది.

ఈ సంస్థ కొందరు ప్రభుత్వ ఉద్యోగులు, ఇతరుల సహకారంతో పథకం ప్రకారం బ్యాంకుల కన్సార్టియంను మోసం చేసింది. 2013 అక్టోబర్‌ 28 నుంచి అక్రమాలకు తెరలేపింది. 2013–18 మధ్య కాలంలో తప్పుడు లెక్కలు, నకిలీ పత్రాలు, ఫేక్‌ ఖాతాలతో మోసాలకు పాల్పడడమే కాక తీసుకున్న రుణాలను తప్పుడు మార్గంలో ఇతర ఖాతాలకు మళ్లించిందని సీబీఐ తెలిపింది. కాగా, సంస్థ చైర్మన్‌ సబ్బినేని సురేంద్రతోపాటు మేనేజింగ్‌ డైరెక్టర్‌ హరిహరరావు, డైరెక్టర్లు శ్రీధర్‌ చంద్రశేఖరన్, శరద్‌ తదితరులపై కేసు నమోదు చేశారు. 

[snoww]

Rachana Television Group Chairman Narendra Choudhary’s daughter Rachana Choudhary wedding with Coastal Group owner Sabbineni Surendra’s son Vishnu Teja is held at Shamshabad. Telangana CM K Chandrasekhar Rao, AP Opposition Leader YS Jagan, GVK, Renuka Chowdhary, Geeta Reddy, TTDP Leader Revanth Reddy, Ghulam Nabi Azad, TV9 CEO Ravi Prakash and ABN Chairman Radha Krishna were some of the VVIPs who blessed the newly-wed couple.

 

 

[snoww]