NEW DELHI: The CBI on Friday arrested Tottempudi Salalith and Tottempudi Kavita, the promoters of Totem Infrastructure Ltd, in reference to an alleged Rs 1,394-crore fraud perpetrated against a consortium of eight banks, officers stated lately.
The agency had named the corporate, which worked as a sub-contractor for several primary infrastructure firms, and its promoters in an FIR filed on the foundation of a complaint from the Union Bank of India, one of the vital eight banks, they stated.
The financial institution alleged within the complaint that it suffered a loss of Rs 313.84 crore as the loans given to the corporate had change into NPA in June 2012.
They stated the entire dues in opposition to the consortium stand at Rs 1394.43 crore.
It is alleged that the loans taken from the banks for more than a few tasks were diverted for functions as opposed to they were meant for and to personal accounts of the promoters.
The company figured within the listing of the largest tax defaulters released via the Income Tax Department in 2015 with an impressive tax of over Rs 400 crore.
The I-T division had in 2015 additionally announced a praise of as much as Rs 15 lakh to informants for tracing the corporate, calling it "untraceable", and different defaulters within the listing.
The agency had named the corporate, which worked as a sub-contractor for several primary infrastructure firms, and its promoters in an FIR filed on the foundation of a complaint from the Union Bank of India, one of the vital eight banks, they stated.
The financial institution alleged within the complaint that it suffered a loss of Rs 313.84 crore as the loans given to the corporate had change into NPA in June 2012.
They stated the entire dues in opposition to the consortium stand at Rs 1394.43 crore.
It is alleged that the loans taken from the banks for more than a few tasks were diverted for functions as opposed to they were meant for and to personal accounts of the promoters.
The company figured within the listing of the largest tax defaulters released via the Income Tax Department in 2015 with an impressive tax of over Rs 400 crore.
The I-T division had in 2015 additionally announced a praise of as much as Rs 15 lakh to informants for tracing the corporate, calling it "untraceable", and different defaulters within the listing.
CBI arrests promoters of Totem Infra in Rs 1,394 crore fraud case
![CBI arrests promoters of Totem Infra in Rs 1,394 crore fraud case]()
Reviewed by Kailash
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March 24, 2018
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