<p>The Central Bureau of Investigation (CBI) on Thursday summoned Telugu Desam Party leader and former Union minister of state for science and technology, Y S Chowdary, also known as Sujana Chowdary, to appear before its Bengaluru office on Friday in connection with the Rs 71-crore bank fraud case against Best & Crompton Engineering Projects Limited.</p>.<p>The CBI had registered a case in 2017 against the Chennai-headquartered electrical equipment manufacturer for allegedly cheating Andhra Bank for Rs 71 crore. Company managing director K Srinivas Kalyan Rao and four other directors were named as accused. They were charged with criminal conspiracy, cheating and forgery among others.</p>.<p>In November 2018, the Enforcement Directorate and Income Tax sleuths conducted searches at Chowdary’s offices and residence. His assets were also attached. Sujana Chowdary, however, denied connections with the company. In a media release, he said that he would take appropriate action.</p>.<p>The CBI investigation revealed that the money borrowed from the bank was transferred through bogus invoices and shell companies to Mahal Hotels which exists only on papers. Both Best & Crompton Engineering and Mahal Hotel are said to be subsidiaries of Sujana Group of Companies promoted by Chowdary.</p>
<p>The Central Bureau of Investigation (CBI) on Thursday summoned Telugu Desam Party leader and former Union minister of state for science and technology, Y S Chowdary, also known as Sujana Chowdary, to appear before its Bengaluru office on Friday in connection with the Rs 71-crore bank fraud case against Best & Crompton Engineering Projects Limited.</p>.<p>The CBI had registered a case in 2017 against the Chennai-headquartered electrical equipment manufacturer for allegedly cheating Andhra Bank for Rs 71 crore. Company managing director K Srinivas Kalyan Rao and four other directors were named as accused. They were charged with criminal conspiracy, cheating and forgery among others.</p>.<p>In November 2018, the Enforcement Directorate and Income Tax sleuths conducted searches at Chowdary’s offices and residence. His assets were also attached. Sujana Chowdary, however, denied connections with the company. In a media release, he said that he would take appropriate action.</p>.<p>The CBI investigation revealed that the money borrowed from the bank was transferred through bogus invoices and shell companies to Mahal Hotels which exists only on papers. Both Best & Crompton Engineering and Mahal Hotel are said to be subsidiaries of Sujana Group of Companies promoted by Chowdary.</p>
