Hyderabad: The main office of Sujana Universal Industries Private Limited located at Nagarjuna circle in Hyd-erabad, is under the control of the Bengaluru-based CBI Bank Security and Frauds cell. The pre-mises were seized on Saturday by the CBI and because the officers could not complete the search, the office was opened on Sunday too and the searches continued.
A source told this newspaper that a team of 25 CBI officials accompanied by support staff from Hyderabad branch continued their searches at Sujana Universal Industries.
“The CBI has taken control over the premises. A notice has been issued and pasted on the premises that no documents are allowed to move out until the investigation is done, and the presence of the promoters is needed. The searches in Chennai, Hyderabad and Bengaluru in connection with the Sujana group defaulting on a loan by the Andhra Bank to the tune of rS 71 crore, will continue,” the source said. According to sources, two other offices of the Sujana Group and the residence of Sujana Choudhary, former Union minister, in Hyderabad were searched. Two promoters of the group are being questioned but no arrests have been made so far. These raids come after Mr Choudhary’s examination by the Bengaluru CBI in April. The Group secured a loan of Rs 364 crore from a consortium of banks. The money that was received as the loan was transferred through bogus invoices and shell companies to Mahal Hotels which during the probe was found to be a fake company. Both Best & Crompton Engineering and Mahal Hotels are part of the Sujana Group of Companies whose promoter is Sujana Chowdhary.
In 2017, the CBI had filed a case against Best & Crompton Engineering. Last November, the office and residences of Mr Chowdhary were searched by the ED and the I-T department and property worth `364 crore has been attached by the ED.
Investigations by the CBI and ED revealed that former employees of the Sujana group have been appointed directors of the shell firms in question.
While the fraud revolves around Best and Crompton Engineering Projects, city-based firms Sri Ganga Steel Enterprises and Bhagyanagar Investments and Trading are also being probed. Tejaswini Engineering and Future Tech Industries are under scanner
