YS Chowdary, a Rajya Sabha MP of the TDP, is considered close to TDP chief and Andhra CM Naidu. Chowdary was MoS in the Union Cabinet headed by PM Narendra Modi before Naidu quit the NDA early last year over the Centre's refusal to grant special status to Andhra Pradesh.
New Delhi: A close aide of Andhra Pradesh CM Chandrababu Naidu is in trouble. The Central Bureau of Invesitgation (CBI) has asked TDP Member of Parliament and former minister of state YS Chowdary to join investigation in a case regarding a bank fraud allegedly committed by a company he promoted.
According to sources, the CBI has asked Chowdary to reach its Bengaluru office on Friday in a multi-crore bank fraud allegedly by Best and Crompton Engineering Limited. Cases were registered against the company twice in 2017 and 2018.
Chowdary, a Rajya Sabha MP of the TDP, is considered close to TDP chief and Andhra CM Naidu. Chowdary was MoS in the Union Cabinet headed by PM Narendra Modi before Naidu quit the NDA early last year over the Centre's refusal to grant special status to Andhra Pradesh.
In one case, the CBI had filed a case of alleged cheating of Rs 71 crore at Andhra bank. The FIR was registered against its five directors including managing director Kakulamarri Srinivas Kalyan Rao. The CBI has slapped charges under IPC sections pertaining to criminal conspiracy, cheating and forgery among others.
The FIR was registered on the basis of a complaint from Andhra Bank which had extended working capital, bank guarantee and letters of credit worth Rs 60 crore to the company. Later, the Central Bank of India, which was the leader of the consortium funding the company, decided to enhance these limits from Rs 310 crore to Rs 900 crore, the complaint alleged.
The Enforcement Directorate (ED) has already registered a case on the basis of the case registered by the CBI. The ED has also attached assets worth Rs 315 crore of a firm promoted by Chowdary on charges of money laundering and bank fraud.
The ED said that a provisional order for the attachment was issued under the Prevention of Money Laundering Act (PMLA) for attaching immovable and movable properties of Viceroy Hotels Ltd, Hyderabad, in a bank fraud case.
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Last Updated 26, Apr 2019, 9:47 AM