Yet another Rs 1,394 cr bank fraud, now in Hyderabad
Hyderabad: Yet another bank fraud has come to light, with the CBI filing a case against Hyderabad-based Totem Infrastructure Ltd (TIL) for allegedly defrauding a consortium of eight banks led by Union Bank of India (UBI) to the tune of Rs 1,394 crore.
The Central Bureau of Investigation (CBI) issued lookout circulars against TIL's promoters and directors -- Tottempudi Salalith and his wife Tottempudi Kavitha -- whose whereabouts were reportedly not known. Salalith is also director in 10 other private firms dealing in road construction.
A CBI team also carried out raids here at two places after filing the FIR against the firm, its promoters and directors and other unidentified public servants. The raids were conducted at the residential and office premises of the firm and accused persons.
The CBI on Thursday filed the case on the basis of a complaint filed by UBI's Industrial Finance Branch (Hyderabad) which alleged to be cheated Rs 313.84 crore by the firm.
State Bank of India, which tops the list with Rs 357.64 crore of loans, is followed by UBI (Rs 313.84 crore), Bank of Baroda (Rs 208.67 crore), IDBI (Rs 174.47 crore), Punjab National Bank (Rs 126.30 crore), Oriental Bank of Commerce (Rs 79.96), JM Financial Asset (Rs 69.07 crore) and Syndicate Bank (Rs 64.48 crore).
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Speaker UT Khader attends local cricket tournament during Bhatkal visit
Bhatkal: Speaker of the Karnataka Legislative Assembly U. T. Khader visited Bhatkal in Uttara Kannada district on Saturday and attended a local cricket match being played as part of a tournament organised by the Cosmos Sports Centre of Bhatkal.
After attending a programme at Anjuman Hami-E-Muslimeen, Khader proceeded to the Bhatkal Taluka Stadium, where the tournament is underway. He was accompanied by office-bearers of the Cosmos Sports Centre and several local community leaders.
Those present during the visit included President of Majlis-e-Islah Wa Tanzeem and former JD(S) leader Inayathullah Shabandri, Vice President of Tanzeem Atiqur Rahman Muniri, General Secretary Abdul Raqeeb MJ, President of Cosmos Sports Centre Ismail Anjum, Managing Director of Mohtisham Complexes S. M. Arshad, former president of the Bhatkal Muslim Youth Federation Imtiyaz Udyawar, among others.
Addressing players and organisers, Khader extended his best wishes to the participating teams and urged the players to uphold the spirit of sportsmanship. He said such tournaments help promote unity and brotherhood among the youth.
The cricket tournament began on November 21 and will conclude with the final match on December 21. It is being organised as part of the golden jubilee celebrations of the Cosmos Sports Centre.
Cosmos Sports Centre is one of the member clubs of the Bhatkal Muslim Youth Federation and is known for its active role in promoting sports in the town. Apart from sporting activities, the centre is also involved in various social and community initiatives, including efforts to promote education among students.
