Hyderabad: The Central Bureau of Investigation branch in Chennai booked a cheating case against BNR Infra and leasing, a partnership firm, and seven others for allegedly availing an Asset Backed Loan (ABL) from the SBI, Bible House branch in R.P. Road, by submitting forged documents and causing loss up to Rs 8 crore.
A case was booked against the company, which has a registered office on Jubilee Hills Road No. 70, along with its managing partner B. Narasimha Reddy, partner S. Bindusagar Reddy, three advocates Nellutla Jagan, V. Narsinga Rao and D. Prabhakara Reddy, and two valuers, N. Datt-atreyudu and K. Kishore Chand.
In his complaint, bank’s regional manager, M. Srinivasa Rao, said a cash credit facility of Rs 2 crore and Bank Guarantee (BG) limit of Rs 1 crore was sanctioned to the company that was engaged in construction activity. The total amount was enhanced by sanctioning ABL limit of Rs 8 crore in 2014.
While trying to recover the amount under Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, the bank came to know that the collateral security documents mortgaged for the purpose by the borrower was not enforceable and the bank was unable to realise the outstanding amount by disposing off the property.
