started · updated
Union Bank of India fraud: CBI registers case in Vijayawada
The Central Bureau of Investigation (CBI) has registered a case regarding an alleged Rs 24. 81 crore fraud involving the Union Bank of India in Vijayawada. The FIR, filed on August 18, names Omkara Vijayalakshmi Strips Pvt Ltd as the primary accused, along with its four directors: Kota Bhanu Prasad, Kota Sravani, Kota Prudvi Venkata Teja, and Kota Rahul Sai Balaji.
According to the investigation, the company, which manufactures steel products, allegedly entered into a criminal conspiracy with unidentified public servants and private individuals. The group reportedly submitted false financial statements and documents to the Union Bank of India’s Suryaraopeta Branch to facilitate the takeover of a loan from Karur Vysya Bank. Based on these documents, the bank sanctioned credit facilities totaling Rs 24. 98 crore on February 22, 2024.
Entities
Central Bureau of Investigation · Omkara Vijayalakshmi Strips Pvt Ltd · Union Bank of India · Vijayawada
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The company allegedly used false financial statements to take over a loan from Karur Vysya Bank via Union Bank of India. munsifdaily.com · www.socialnews.xyz
- [● 2 SOURCES] The CBI registered a case involving an alleged Rs 24. 81 crore fraud against Union Bank of India. munsifdaily.com · www.socialnews.xyz
- [● 2 SOURCES] Union Bank of India sanctioned credit facilities totaling Rs 24. 98 crore on February 22, 2024. munsifdaily.com · www.socialnews.xyz
- [● 2 SOURCES] Omkara Vijayalakshmi Strips Pvt Ltd and its four directors are named as accused in the FIR. munsifdaily.com · www.socialnews.xyz