CBI arrests businessman in bank fraud
Team Udayavani, Jan 23, 2018, 12:58 PM IST
Bengaluru: A former MLC from Andhra Pradesh is now behind the bars in a bank fraud case.
The accused has been identified as V Narayana Reddy, a businessman. He was sent to the CBI office in Bellari road for some questioning where he was arrested by the CBI officials on Monday.
The company owned by Reddy – VNR Infrastructures – had applied for loans to the tune of Rs 190 crore for a few projects in 2014-2015 against security of immovable property, which were given highly inflated values. The company failed to repay the loans and the Industrial Finance Corporation of India went into a loss of Rs.205 crore. A case was filed against the firm and the Bengaluru CBI had conducted raids in May in several cities like Nellore, Hyderabad and Bangalore.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Kumaraswamy and Shivakumar spar over sex scandal involving Hassan MP
Congress stands for commission, corruption and cronyism, says BJP chief Nadda
Revanna case: BJP launches counter-attack on Congress, questions delayed action by Karnataka govt
Newly built Dr Ramdas M Pai Block inaugurated at Kasturba Hospital, Manipal
Nadda holds roadshow in Karnataka’s Haveri
MUST WATCH
Latest Additions
‘Shehzada’ dig: 3 generations of Nehru-Gandhi family sacrificed themselves for country, says Sharad Pawar
Rinku Singh a casualty of IPL’s ‘Impact Player’ rule: Report quotes BCCI source on T20 World Cup
Delhi cops question Youth Cong leader in MP’s Chhatarpur over fake video of Shah
Kumaraswamy and Shivakumar spar over sex scandal involving Hassan MP
Poor people have more children, why only Muslims are being targeted: Kharge asks PM