The Enforcement Directorate (ED) has issued notices to former Union Minister, MP Sujana Chowdary in a case of fraudulent non-payment of loans at banks. The MP was given full notice to appear for trial on February 12. It is known that Sujana is accused of looting crores of rupees with shell companies.
Cases were registered on Chowdary as part of an investigation into the alleged Rs 6,000-crore bank fraud by more than 120 shell companies controlled by the former minister. He was accused of committing irregularities during his tenure as Union Minister.
In 2017, the CBI registered three FIRs based on complaints from three banks – The Central Bank of India, Andhra Bank and the Corporation Bank.
The three banks were saddled with a loss to the tune of Rs 364 crore (Central Bank of India Rs 133 crore, Andhra Bank Rs 71 crore and Corporation Bank Rs 159 crore) by the company, which took loans by allegedly falsifying accounts and submitted fraudulent statements. An investigation into this case is going on. In this context, notices are sent to attend the hearing on the 12th of this month.
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