1 week ago
Hyderabad Police Book Vishnu Enterprises in Rs 43-Crore Bank Fraud
Hyderabad police have opened a case against Vishnu Enterprises and several people managing it.
Karur Vysya Bank says the business borrowed Rs 43 crore.
The loan was reportedly taken for a gold business.
The bank alleges that false documents were used as if they were real.
Property on Raj Bhavan Road was given as security for the loan.
The borrowers and guarantors later did not repay the money and interest.
The bank accounts were then classified as non-performing.
Police are investigating allegations including fraud, breach of trust and conspiracy.
Hyderabad police registered criminal cases against Vishnu Enterprises and its management.
Karur Vysya Bank alleged that the accused obtained a Rs 43-crore loan for gold business.
The bank alleged that forged documents were submitted as genuine to secure the loan.
Borrowers and guarantors mortgaged property on Raj Bhavan Road as security.
The loan accounts became non-performing after the accused allegedly failed to repay dues and interest.
- Who
- Hyderabad police registered cases against Vishnu Enterprises, Pramod Kumar Agarwal, Deepak Kumar Agarwal, Bindiya Agarwal and Subham Kumar Agarwal, following a complaint by Karur Vysya Bank officials.
- What
- The accused allegedly obtained a Rs 43-crore loan using forged documents and failed to repay it.
- Where
- The case was registered in Hyderabad; mortgaged property was located on Raj Bhavan Road.
- When
- The article does not specify when the loan was taken or when the cases were registered.
- Why
- Police acted on the bank’s allegation that the accused deliberately intended to defraud it through alleged forgery, breach of trust and conspiracy.
Key facts
- Bank
- Karur Vysya Bank
- Alleged loss
- Rs 43 crore
- Business purpose
- Gold business
- Security
- Property mortgaged on Raj Bhavan Road
- Account status
- The accounts were declared non-performing after repayment defaults.
- Police action
- Criminal cases were registered under relevant sections.
Sources
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