The issuance of summons by the Central Bureau of Investigation (CBI) on former Union minister and Telugu Desam Party Rajya Sabha member Y S Chowdary alias Sujana Chowdary for questioning in a bank fraud case has led to various speculations in the social media.
The central agencies – CBI, Enforcement Directorate and Income Tax department – have been systematically dealing with the bank fraud cases involving Sujana Chowdary for the last few months and building up strong evidences against him.
All these years, Sujana has been managing to avoid all the investigations through his connections at the Centre.
Since he was the Union minister till March 2018, nobody could dare touch him, but once he came out of the cabinet following TDP president N Chandrababu Naidu’s face off with Prime Minister Narendra Modi, troubles started for Sujana.
According to reports, it is very difficult for the TDP MP to escape this time. At present, he is being questioned by the CBI in Bengaluru and once they establish the evidences, he is most likely to be arrested.
“The Parappana Agrahara on the outskirts of Bengaluru city is getting ready for Sujana and he cannot escape from the arrest,” a report in a section of social media said.
The case pertaining to evasion of repayment of loans taken by Best & Crompton Engineering Projects, an electrical equipment manufacturing company promoted by Sujana and a sister concern of Sujana Group of Industries.
Based on the complaints lodged by three banks the CBI Bengaluru registered three FIRs against him. The banks said the total loss caused to the consortium of banks accounts to Rs 364 crore by Best & Crompton Engineering Projects.
The company had allegedly got loans through fraud accounts from Central Bank of India (Rs 133 crore), Andhra Bank (Rs 71 crore) and Corporation Bank (Rs 159 crore). It also submitted false statements, as per the reports.
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