VIJAYAWADA: Patamata police registered a case against Yelamanchili Sri Rama Murthy, the prime accused in the sensational call-money racket, and 10 others, including the branch manager and staff of a bank for cheating a lawyer by selling his properties. Sri Rama Murthy was named prime accused in the charge sheet filed in the case. Sri Rama Murthy is on bail in the call-money racket case.
The complainant, Dara Venkateswara Varaprasad, reportedly took a loan of Rs 1.06 crore by mortgaging his property from the accused to clear his bank loans. In the complaint, Varaprasad alleged that Sri Rama Murthy sold away his property, which he offered as collateral. Varaprasad is a resident of Kanna Nagar, near Benz Circle. His wife Sita Kumari runs a paper and plastic manufacturing unit, called M/s Lakshmi Industries, at Auto Nagar. For investing in her business, she applied for four different types of loans from the Patamata branch of the State Bank of Hyderabad (SBH) in 2005.
When the bank officials said she should clear the entire loan of Rs 90 lakhs in 2016, and attached their properties under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (also known as the SARFAESI Act), a bank recovery agent, MV Rathnam, introduced them to Sri Rama Murthy, who arranged the loan in 2017 to clear the bank debt.
“After some days, they (Sri Rama Murthy and Rathnam) came to my house and demanded that I pledge my property for the loan, and made me register a sale-cum-general power of attorney (GPA) for the immovable properties worth Rs 6 crore in different names. “I used to pay him Rs 2.5 lakh as interest. Six months later, I came to know that he sold my property.”