Hyderabad (Telangana): The Central Bureau of Investigation (CBI) on Saturday raided the premises linked to Telugu Desam Party (TDP) leader YS Chowdary in connection with a multi-crore bank fraud case.
The investigative agency had filed a case against electrical equipment manufacturer Best and Crompton Engineering Projects Limited, for allegedly cheating Andhra Bank to the tune of Rs 71 crore in 2017.
In April earlier this year, Chowdary was summoned by the CBI for questioning in the case.
Confirming the summons, Chowdary claimed that he has not held any executive or non-executive positions in any corporate entity since October 2014.
"Since 2003, I was holding only non-executive positions in three listed entities of Sujana group namely, Sujana Universal Industries Limited, Splendid Metal Products Limited with no powers of management of companies till October 2014," the TDP leader earlier said.
"It is further to mention that I was not holding any executive or non-executive positions in any corporate entity since October 2014 including the above three listed companies," he added.
Insisting that he will take "appropriate steps" in the matter, Chowdary said, "The summons which I received from CBI is in respect of Best and Crompton Engineering Projects Limited. I confirm that I have no connection, knowledge or acquaintance with the company referred by them or its affairs at any point of time.
Also read: Heat wave continues to grip various parts of the country
