Hyderabad: Directors of Celkon Mobiles against whom a cheating case was registered at Madhapur police station a week ago denied the allegations, and said that the complainant, Y. Swapna Kumar, is no more a board member.
The police said that they have informed the court that the allegations against the directors of Celkon were found to be civil in nature.
Celkon said in a statement that the allegations were based on false assumptions. After investigation, the Madhapur police gave a clean chit to Celkon Mobiles. Banks also said that the company was following the RBI guidelines. The banks gave the clean chit after the financial dealings of the company were verified by associated bankers.
R. Kalinga Rao, Madhapur inspector, said that prima facie a case was registered as per the complaint. His first allegation that his shares were valued low falls under the purview of the national company law tribunal. His second allegation that the directors cheated banks by providing fabricated balance sheets to secure loans proved wrong as the banks gave a clean chit. “We have completed the investigation and submitted a final report to the court,” said the inspector.
