From the times of liquor baron Vijay Mallya to the diamond conman Nirav Modi, there are a plethora of men who looted the immense wealth of the country, defaulted to the national banks, and flee. Especially the levels of scams architected by the big conmen are shattering. Practically speaking, turning over the list of those who have defaulted on banks across Telangana is chaotic. Our Hyderabad Bank branches are the third most prone to fraud. From Nirav Modi, who came to Hyderabad, to the other scammers who entered the city, the data regarding the history of every major bank scam is covered by the Tolivelugucrime bureau.
The details about the day they became default to the day this news was published in newspapers, everything is covered in this coverage. Have those assets been recovered? Or not? All such details are in Tolivelugu’s hands. On one hand, the bankers are having a hard time getting many farmers to repay their loans of Rs 2 lakh, at least to pay the interest. On the other hand, there are hundreds of businessmen who in secret collaborated with the bankers and exploited thousands of crores. While these scammers are walking free, or flying abroad leading a luxurious life, it is people like farmers who are struggling every single day.
In the last three years, 840 people have defaulted on loans to banks. Tolivelugu is now showing their details based on public notices given in various newspapers. All these people are taking public money from the banks in the form of loans are spending it recklessly. Some are showing the land of low value and taking heavy loans in the name of companies. These entities are looting banks and never paying back the money. As a result, many banks are losing money.
With this, all banks could do is auction the assets after the loanee defaults:
1. On April 30, 2019, the RBI announced that Nirav Modi had taken a total of Rs 5,044 crore from the Punjab National Bank by mortgaging the Gitanjali James Park near Hyderabad
2. On the same day, Venkatramireddy of Deccan Chronicle Holdings along with others defaulted on loans of Rs 1,951 crore.
3. VMC Systems Ltd evaded Rs 1,314 crore to banks.
4. Coastal Project Limited has not paid Rs 4,736 crore to banks. The list, announced by the RBI across the country, includes four major Hyderabad-based companies.
5. In 2017, the ICRA reported that Madhukan Projects Pvt Ltd, owned by the family of TRS party parliamentary leader, MP Nama Nageshwara Rao, had not paid Rs 1,400 crore.
6. Ind Bharat (Madras) Power Limited Company formed by Raghuram Krishnaraju (won as an MP from the YCP party) and others who are always in the news for the same party, took a total loan of Rs 9,293 crore in Hyderabad and Chennai, and diverted Rs 6,100 crore to various projects. The CBI investigation into this is going on. Most of the loans were taken from the Punjab National Bank as well as the Power Finance Corporation.
7. Venus Aqua Foods Ltd, a company formed by Nimmagadda Ramakrishna and others, has evaded Rs 37 crore from Andhra Bank. The CBI investigation into this is ongoing.
8. YCP leader and filmmaker Potluri Varprasad and Ghansi Sureddy embezzled Rs 172 crore from Canara Bank in the name of PVP Capital Limited. It was announced on 05-07-2019, the auctioning of their properties.
9. On the same day, Kasani Gnaneshwar announced that he had taken Rs 73 crore from Syndicate Bank with Kasani Resorts Pvt.
10. Y Balakrishna of SEW Infra Ltd. borrowed Rs 188 crore from Andhra Bank and did not pay.
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11. Tatem Infra Ltd Hyderabad evaded Rs 527 crore through various banks. Therefore, it was announced on 19-7-2020 that they were auctioning the assets.
12. Lanco Infra, owned by the family of Lagadapati Rajagopal, has been declared by banks as having Rs 44,354 crore in arrears.
13. Parthasarathy, a consultant of Karvy defrauded banks of Rs 2,300 crore. Several banks have made announcements in this regard. However, in recent times, three people have been arrested along with him. They also unknowingly invested other people’s money in stock brokerages.
14. It has been reported in English magazines that along with Rayapati Sambhasivarao, another company by the name of ‘Tolls toy Infra’ has embezzled Rs 69 crore.
15. Not just private individuals, Companies like Rajiv Swagriha have evaded Rs 385 crore. The auction was also called in this regard.
16. MBS Jewelry Pvt Ltd has defrauded Rs 524 crore from various banks. This leading gold company has evaded quotes by mortgaging disputed lands in banks.
17. ICSA India Pvt. Ltd., headquartered in Vijayawada along with Telukuntla Srinivasa Rao and several others, has not paid Rs 415 crore in arrears in Hyderabad, various banks have reported in the Times.
18. Liquidator notices were issued to Surana Industries Limited on 26-11-2020 on arrears of Rs.242 crore in Hyderabad.
19. AP Cinema Workers Co-operative Housing Society received Rs.31 crore in SBI for non-payment and the same was published in the newspaper on 10-01-2019.
20. On 24-01-2018, SBI announced in an English paper that former Telangana Minister Jupally Krishna Rao had evaded Rs 86 crore. It was a sensation before the election. This affair is also said to have contributed to his defeat.
