The suspects, S Prashanth and wife Nithya Prashanth, partners of Sri Krish Associates, had taken a loan of Rs 4 crore and cash credit limit of Rs 2 crore in 2018. The loan and cash credit limit were collaterally secured by mortgage of five immovable properties, which included two properties of guarantor Deivani Ganeshan.
It is alleged that the two, who had availed loan for the purchase of construction materials like centring sheets etc, had not performed any business operation. The borrowers failed to divulge the details of business turnover, stock statement, bill purchase, with a dishonest intention to hide their criminal misdeeds and diverted the fund.
During the bank investigation, it was found that the borrowers falsified the revenue records and further cooked up the sale deed to be as genuine transaction by purchasing stamp papers, payment of registration fee and payment of sales etc, the CBI said in the FIR.
The CBI has booked the couple along with unnamed bank officials under the provisions of Prevention of Corruption Act and other IPC sections.