The Central Bureau of Investigation (CBI) on Thursday registered a case against YSR Congress Party MP Kanumuru Raghuram Krishnam Raju for allegedly defrauding banks’ consortium of Rs 237.84 crore for making fake documents between 2012 and 2017.
CBI files case against YSR Congress MP
A case has been registered under sections 120 (b) (criminal conspiracy), 420 (cheating), 467 (forgery of documents), 468 (forgery of electronic records) and 471 (use of forged documents for criminal purposes) of the Indian Penal Code. had gone. The CBI has taken this step following a complaint lodged by the State Bank of India, Chennai.
Raju is an MP from Narasapuram parliamentary constituency. However, he revolted against the YSR Congress Party. The party filed a petition before Lok Sabha Speaker Om Birla last year, demanding his disqualification.
Apart from Raju, his company Ind Barath Power Gencom Ltd. And a case was also registered against six other directors of the company. The company’s corporate office is located in Hyderabad and the plant is located in Tuthukudi, Tamil Nadu.
According to the FIR, Raju and others had allegedly diverted the money. The accounts were manipulated to defraud the consortium of banks, including Axis Bank, SBI, Indian Overseas Bank, UCO Bank, Syndicate Bank, Bank of India, Punjab National Bank and ILFS.
The fraud came to light during a forensic audit conducted by an audit firm at the request of the consortium of banks. The audit took into account the company’s transactions between May 25, 2012 to May 21, 2017, and presented the report on July 24, 2020.
The FIR states that the power plant, Ind Barath Power Gencom Limited, is a power plant with a capacity of 189 MW at Tuticorin, Tamil Nadu. The company started its operations in January 2010 but was shut down in May 2017. The company’s account in the consortium of banks was changed to a non-performing asset (NPA) on May 28, 2017.
Raju said that the FIR lodged against him by the CBI was fabricated without any fact. However, he said that he would fully cooperate with the CBI in the investigation and would give clarification in the case. Raju alleged that the case was registered under pressure from the leaders of his own party. He also demanded that the CBI should also disclose the data of telephone calls between the Andhra Pradesh Chief Minister’s Office and SBI officials in Chennai.