HYDERABAD: Central Bureau of investigation (CBI) have found that several Hyderabad-based companies involved in different businesses have cheated many banks.
The CBI officials suspect that the companies in the city have cheated banks to the tune of at least Rs 20,000 crore.
Recently, a review of various cases which are under investigation was done by the agency as new leads have been found in connection with these cases.
The Bank Fraud and Security Wing of CBI in Bengaluru, along with the Hyderabad CBI officials, have intensified the probe into such cases.
The investigating agency, after scrutinising reports obtained from banks which offered huge loans to businesses, found that the accused companies duped the banks by falsely announcing themselves as Non-Performing Assets (NPA).
“During the preliminary probe, the agency found that the accused companies have been diverting funds to other accounts using fake invoices and bills, and tampering the account records,” sources said.
The accused companies have also transferred properties on benami names to escape from investigation. CBI is all set to file chargesheets in the court for legal proceedings.
The investigating agency suspects the role of company auditors in duping the banks. The auditors have played a key role by following directions of managements of accused companies.
Sources said the investigating officers have grilled some of auditors in connection with the frauds and recorded their statements.