Hyderabad: The Central Bureau of Investigation has booked a cheating case against promoters of a city-based agro company for impersonating a land owner and siphoning off Rs 3.5 crore loan amount.
The case was booked under IPC sections of criminal conspiracy, cheating, forgery and using forged document as genuine against three accused — managing partner of Janaki Agro Ramjee Adalla, Padmavathi Peddapati of Kanchanbagh and Santosh Yadav.
It all started in 2017 when Ramjee, a resident of SR Nagar, approached Syndicate Bank (now merged with Canara Bank) and applied for a working capital limit of Rs 3 crore for procuring agro products. Ramjee took a vehicle loan of Rs 8.5 lakh in 2018, while the company availed a temporary overdraft of Rs 30 lakh on the working capital in 2018.
As the company defaulted on loan payments, the account was classified as a non-performing asset in April 2019.
The
CBI said the agro firm gave collateral security of an open land in Kondapur. The land was owned by K Vijaya Lakshmi but could not be auctioned as Padmavathi impersonated as Vijaya Lakshmi and helped Ramjee secure the loan from the bank.
Padmavathi admitted in writing that she impersonated as Vijaya Lakshmi upon the directions of Santosh to help Ramjee. She also admitted that she handed over her KYC documents, house documents and a photo to Santosh.
Padmavathi went to the sub-registrar’s office and impersonated as Vijaya Lakshmi and signed the collateral security documents. Even Aadhaar and PAN card details were manipulated by the accused, the CBI alleged.
Later, Ramjee forged various documents and applied for the loan from the bank, it said.
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Sudhakar Reddy Udumula is the Editor (Investigation) at the Times...
Read MoreSudhakar Reddy Udumula is the Editor (Investigation) at the Times of India, Hyderabad. Following the trail of migration and drought across the rustic landscape of Andhra Pradesh and Telangana, Sudhakar reported extensively on government apathy, divisive politics, systemic gender discrimination, agrarian crisis and the will to survive great odds. His curiosity for peeking behind the curtain triumphed over the criminal agenda of many scamsters in the highest political and corporate circles, making way for breaking stories such as Panama Papers Scam, Telgi Stamp Paper Scam, and many others. His versatility in reporting extended to red corridors of left-wing extremism where the lives of security forces and the locals in Maoist-affected areas were key points of investigation. His knack for detail provided crucial evidence of involvement from overseas in terrorist bombings in Hyderabad.
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