Hyderabad: CBI officials registered criminal cases against Vijaya Aero Blocks pvt. ltd. for defaulting on a loan amount of Rs 44 crore with Bank of Baroda.
The cases were registered against Vijaya Aero Blocks, and its directors Narra Prasanna Kumar, Chigurupati Ram Prasad, Narra Lakshmi Prasanna, Narra Vijaya Lakshmi and some others.
According to CBI officials, the firm manufactures autoclaved aerated concrete brick/blocks (AAC Bricks) in Kunsi village, Mahbubnagar district.
Bank of Baroda officials lodged a complaint with CBI stating that they had sanctioned a loan of Rs 44 crore to Vijaya Aero Blocks, which pledged immovable properties located at Ranga Reddy and Mahaboobnagar districts as collateral security. The bank audit report found the borrower’s irregular repayment of installments.
The CBI has taken up investigation.
