Rice miller dupes SBI of 3.6cr: CBI

Hyderabad: The Central Bureau of Investigation has booked a rice miller from Guntur for duping the State Bank of India to the tune of 3.6 crore.
The CBI received a complaint from A Tarakeswar Rao, regional manager of State Bank of lndia, Brodipet, Guntur, against Harsha Vardhana Modern Rice Mills Private Limited.
Rice mills managing director Kola Gurava Reddy, Kola Gurava Reddy, Aruna, Mastanamma, Lakshmi Devi and Rama Brahma Modern Rice Mills represented by Jakireddy Brahma Reddy were named as accused.
In 2011, the company approached SBI for financial facilities in the form of a term loan for meeting the part cost of the acquisition and establishment of a machinery for rice mill. A loan of 3.85 crore was sanctioned in 2012.
The accused floated different firms, obtained finance from SBI and evaded payment of bank’s dues. tnn