Chennai: The CBI enrolled a body of evidence against K Srinivasa Kalyan Rao, overseeing executive of a city based firm and child of previous CBI boss, Vijaya Rama Rao, for supposedly defaulting on a Rs 124 crore credit from Central Bank of India. Srinivas Kalyan Rao, MD Best and Crompton Engineering, has been slapped with
instance of criminal trick, duping and imitation. His dad Vijaya
Rama Rao was the executive of CBI somewhere around 1993 and 1996. He later joined
governmental issues in Andhra Pradesh.
By sources, sleuths on Saturday completed inquiries in Chennai and Hyderabad regarding the case.
It has been asserted that the organization had obtained Rs 304 crore from a consortium of banks involving Central Bank, Andhra Bank and Corporation Bank by method for asset based and non/reserve based points of confinement. National Bank, which
has a presentation of Rs 124 crore, had drawn closer CBI with a grievance on the premise of which the case was enlisted under segments 120 B r/w 420 468 and 471 of the Indian Penal Code.