A criminal case has been been registered against the CEO of a company for submitting tampered property documents to a bank and obtaining a loan of Rs 5.90 crore. The fraud came to light when the CEO failed to repay the loan.
The Central Crime Station, Hyderabad, arrested the accused, 37-year-old Gunti Suman, CEO and director of Eigerbuck Private Limited and booked him under multiple counts for cheating the Punjab National Bank by producing tampered land documents and taking the loan. Police said the land mortgaged to the bank was originally owned by Raheemuddin, who was the pattadar of a 10,540 square yard plot in Lingojiguda village in Saroornagar mandal.
In Ranga Reddy district. This land was sold to Nimmagadda Raja Giridhar Kumar and three others in 2005. By suppressing these facts, the same person transferred the same property on the name of his daughter as a gift deed (Hibanama) by modifying the survey number of the land, who, in turn, executed sale deeds in favour of accused persons Y. Venkata Siva Reddy, a native of Kurnool, and three others.
Later, by colluding with Gunti Suman, who gave a stake to Y. Ventaka Siva Reddy, the land documents were mortgaged with Nanalnagar branch of PNB in the city. Thereafter, the accused and others intentionally defaulted on loan repayments, thereby causing loss to PNB.
A case has been registered vide Cr No: 190/2018 U/s 420 465, 467, 468, 471, 120(B) R/w 34 IPC. The accused Gunti Suman is being sent for judicial remand and further investigations are on....