CHENNAI: Chennai CBI’s anti-corruption branch sleuths has registered two separate cases against two valuers and one builder along with different housing loan borrowers for a total of Rs 11.27 crore bank frauds, based on complaints from SBI.
In the two cases filed by the CBI, valuers Suryanarayanan and Malaivel Sugumaran along with builder D Santhosh of Aura Space Developers are cited as common suspects.
In one case it is alleged that during the year 2018 and 2019, the accused persons Kumar, of AK-ILA Exim Corporation along with the valuers, the builder and bank officials entered into a conspiracy to cheat SBI, Tambaram in the matter of availing housing term loan by submitting inflated valuation reports prepared by the valuers and the sanctioned loans were diverted for other purpose and not utilised for the purpose for which the loan was sanctioned. The bank reported a loss of Rs 5.31 crore in the process.
In the second case, Dr T G Raja Ramanan, of Ramana Nursing Home, Velachery approached SBI, Luz branch and availed housing loan. In this case, also the borrower allegedly entered into conspiracy with valuers and builders along with bank officials and intentionally defrauded the bank causing a loss of Rs 5.96 crore.
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