Business Standard

CBI registers case against Chennai-based SLO Industries


ANI Chennai (Tamil Nadu)
The Central Bureau of Investigation (CBI) on Thursday registered a case against Chennai-based SLO Industries & Aran Steels Pvt Ltd on charges of causing a loss of about Rs 201 crores to Corporation Bank.
The investigating agency also booked its promoters and conducted searches at five locations in the city that belonged to them.
Meanwhile, in yet another case of bank fraud that reportedly involved the Punjab National Bank (PNB), the CBI booked a case against the director and managing director of Hyderabad-based M/S VMC systems limited, Vuppalapati Venkat Rama Rao and Vuppalati Jima Bindu, respectively.
The CBI officials also conducted searches in three places on the houses of the accused in the city.
According to reports, the Hyderabad-based company caused loss to the tune of Rs 539 crores.

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First Published: Sep 27 2018 | 10:38 PM IST

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