CBI books Totem Infra in Rs 1,394 crore bank loan fraud case

Agencies
March 23, 2018

New Delhi, Mar 23: The CBI has booked a Hyderabad-based construction and infrastructure company for allegedly defrauding a consortium of eight banks to the tune of over Rs 1,394 crore, officials said on Thursday.

Totem Infrastructure Ltd, which worked as a sub-contractor for several major infrastructure companies, and its promoters Tottempudi Salalith and Tottempudi Kavita were named in a CBI FIR, registered on the basis of a complaint from the Union Bank of India, one of the eight banks, they said.

The company figured in the list of the biggest tax defaulters released by the Income Tax Department in 2015 with an outstanding tax of over Rs 400 crore.

The I-T department had in 2015 also announced a reward of up to Rs 15 lakh to informants for tracing the company, calling it "untraceable", and other defaulters in the list.

The bank also alleged that the promoters were untraceable, but the agency managed to track them down at their new place of residence and carried out searches there today, the officials said.

The CBI also issued a Look Out Circular against the promoters to prevent them from leaving the country and tracking their movements, they said.

The bank alleged in the complaint that it suffered a loss of Rs 313.84 crore as the loans given to the company had become NPA in June, 2012.

They said the total dues towards the consortium stand at Rs 1394.43 crore.

It is alleged that the loans taken from the banks for various projects were diverted for purposes other than they were meant for and to personal accounts of the promoters.

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News Network
June 22,2020

New Delhi, Jun 22: With an increase of 14,821 new cases and 445 deaths, India's COVID-19 count reached 4,25,282 on Monday.

According to the latest update by the Union Ministry of Health and Family Welfare (MoHFW), 13,699 deaths have been recorded due to the infection so far in the country.

The rise in confirmed cases today is lower than the highest spike of 15 thousand plus cases registered on Sunday.

The count includes 1,74,387 active cases, and 2,37,196 cured/discharged/migrated patients.

Maharashtra with 1,32,075 confirmed cases remains the worst-affected by the infection so far in the country. The state's count includes 60,161 active, 65,744 cured, discharged patients while 6,170 deaths have been reported due to the infection so far.

Meanwhile, the national capital today became the second-worst affected region in the country with the number of confirmed cases in Delhi reaching 59,746 as opposed to Tamil Nadu's 59,377 cases.

While 2,175 deaths have been reported in Delhi due to the infection so far, the toll in Tamil Nadu stands at 757.

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News Network
July 16,2020

New Delhi, Jul 16: The Rajasthan High Court will hear Thursday afternoon a petition filed on behalf of the Sachin Pilot camp, challenging a move to disqualify dissident MLAs from the state assembly.

The plea against the disqualification notices sent from the Speaker’s office to Pilot and 18 other Congress MLAs will be heard by Justice Satish Chandra Sharma.

The 19 MLAs were sent notices Tuesday by the Speaker after the Congress complained that the MLAs had defied a party whip to attend two Congress Legislature Party meetings. 

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News Network
April 5,2020

Alappuzha, Apr 5: Coming to the rescue of a toddler in need of crucial treatment for cancer, the Kerala health department scrambled its resources for transporting a toddler from here to Hyderabad on Sunday.

In a co-ordinated action, the department arranged for an ambulance and necessary travel permits for the nearly 16-hour 1,100 km inter-state journey that started at 7.15 am from Cherthala in this district with the entire cost to be borne by the state government.

Health Minister K K Shailaja on Saturday said all steps have been taken to facilitate the travel of the toddler and her family members to Hyderabad after local media reports highlighted the plight of the child.

The state Chief Secretary had discussed the matter with his counterparts of other states en route to ensure a smooth journey,the Health Ministry said.

"The travel permit and directions to other states through which the ambulance has to pass were issued from the police headquarters. All district police chiefs were given instructions from the headquarters to arrange for passage of the ambulance," it said in a release.

The journey started at 7.15 am and they are expected to reach Hyderabad at 11 pm.

"The state government will bear the expenses incurred for the journey. The ambulance will remain in Hyderabad and will return with the family," it said.

The first phase of treatment was done at the L V Prasad Hospital in Hyderabad and the family was supposed to travel again within 21 days for the next phase of treatment.

As the family could not undertake the journey in view of the nation-wide lockdown to check coronavirus scare, the state government swung into action to help the child.

The number of confirmed novel coronavirus cases in the country climbed to 3,374 on Sunday while the death toll rose to 77, according to Union Health Ministry data.

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