CBI calls Sujana Chowdary for investigation upon Rs 71-crore bank fraud case

CBI calls Sujana Chowdary for investigation upon Rs 71-crore bank fraud case

CBI calls Sujana Chowdary for investigation upon Rs 71-crore bank fraud case
 
The Central Bureau of Investigation(CBI) has summoned Y Sujana Chowdary, Telugu Desam Party Rajya Sabha member and former Union minister upon the bank fraud case. The fraud case involves cheating of the Andhra Bank by Best & Crompton Engineering Projects, an electrical equipment manufacturing company which has been promoted by him.
 
The 57- year-old who was the Minister of State for Science and Technology and Earth Sciences from 2014 to 2018 has to appear before the CBI office in Bengaluru on Friday in the Rs 71-crore bank fraud case. Three cases have been registered by the Bank Securities and Fraud Cell (BS&FC) of the CBI, Bengaluru, claiming a combined loss of Rs 364 crore to three banks - Central Bank of India (Rs 133 crore), Andhra Bank (Rs 71 crore) and Corporation Bank (Rs 159 crore).
 
On this note, YS Chowdary released a clarification on Thursday that he has been holding only non-executive positions in three listed entities of Sujana Groups namely Sujana Universal Industries Limited, Splendid Metal Products Limited and Neueon Towers Limited with no powers of management till October 2014. “I confirm that I do not have any connection, knowledge or acquaintance with the company referred by them or its affairs at any point of time,’’ he contended.



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