The Central Bureau of Investigation has chargesheeted T.D. Naidu, Chairman and managing trustee, Deen Dayal Medical and Educational Trust, Chennai and others in a case relating to an alleged bank fraud.
The CBI had registered a case on July 28, 2016, against Mr. Naidu and others on a complaint preferred by the Union Bank of India on charges of criminal conspiracy, forgery and cheating. The allegation is that Deen Dayal Medical and Educational Trust had availed a term loan and bank guarantee for establishing a medical college in Tiruvallur district and did not repay the same, thereby causing a loss of ₹115.21 crore to the bank.
It was also alleged that the Trust filed false and fabricated income tax returns of the chairman & managing trustee and trustee of the Trust, constructed a few medical college buildings on the property which was not mortgaged with the bank and diverted funds for the purpose other than for which it was sanctioned.
After completion of investigation, the CBI filed a charge-sheet in a special court in Chennai.
