BJP leader and former MLA Thouti Nandeshwar Goud’s son and his relative were booked by Punjagutta police on charge of cheating State Bank of India’s Small and Medium Enterprises unit of Somajiguda branch.
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According to the police, they received a court referred complaint filed by SBI SME’s chief manager Rajula Satish Kumar that Thouti Sumanth from Kukatpally and Mr. Goud’s son Thouti Ashish Goud from Patancheru of M/s Sivanta Pharma, Venkateshwara Enclave, Beeramguda, approached the the bank stating that their firm was engaged in trading of basic raw material to pharmaceuticals for manufacturing of active pharma ingredients and bulk drugs and requested for sanction of credit facilities of ₹2.50 crore for their business.
Based on their representation, assurance and promises, they were sanctioned ₹2.50 crore on May 24, 2018 and the accused executed all the necessary security documents. The loan facility was primarily secured by hypothecation of stocks and receivable and equitable mortgage of residential building owned by Ashish Goud measuring 460 square yards in Survey No. 740, situated in Goutham Nagar, Patancheru (G+4 floors building consisting of total 16 flats).
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After availing the loans facilities, the accused committed irregularities in conduct of the loan accounts and failed to repay the outstanding loan amount with interest.
Even when the bank initiated recovery proceedings and demanded notice and possession notice under SARFAESI Act on August 23, 2021, the accused failed and neglected to repay the loan dues.
“When the bank staff visited the mortgaged property, to their shock, the registered mortgaged property was occupied by some third party and on inquiry they have informed that they purchased the said flat from its original flat owner, Ashish Goud, under registered sale deeds,” police said.
Ashish Goud sold the mortgaged property to third parties without paying the loan. “They have conspired and obtained loan fraudulently by forging the title deeds and sold mortgaged property to the third parties causing loss to the bank,” police said. Based on the complaint lodged by the chief manager, a case under Sections 423,465,406,420,120(B) of IPC and 156(3) Cr.P.C was registered against the accused and a probe was launched.