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).
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Will fight those who installed 'fake' Parashurama statue: Karkala Congress leader
Karkala: Town Municipality member and Congress spokesperson Shubhada Rao has accused the Bharatiya Janata Party (BJP) of duping citizens by installing a fibre glass statue of warrior-sage Parashurama at the new theme park in Karkala despite claiming that a bronze statue would be installed there.
Addressing a meeting held at the Bailuru Marigudi Hall on Saturday by the Karkala Parashurama Theme Park Welfare Committee demanding the installation of a bronze statue of the sage at the new park on the Umikal hills at Bailuru town, Rao clarified that the Congress had never opposed the development of the theme park or the installation of a statue of Parashurama at the park, but had expressed dissatisfaction at the BJP replacing the bronze statue meant to be used at the park with a fibre glass statue. He added that Congress aimed to unveil the truth regarding the statue.
Calling Karkala MLA Sunil Kumar's claims about the support of 65 legislators to him whom he could bring to the Parashurama hill as a bluff, Rao said that he would meet the legislator in Bengaluru itself with documentary proof to show that the statue was 'fake'. He also challenged Sunil Kumar to face the truth about the theme park.
A video containing information on the theme park, the statue, the correspondence between the government and the district administration as well as the gram panchayat, in addition to the court order was presented at the meeting.
