CBI Arrests Sujana Group Of Companies Director

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Central Bureau Of Investigation (CBI) on Saturday arrested Sujana Group of Companies Director PV Ramana Reddy and four others (Srinivas Kalyan Rao, Ramakrishna Varma, Venkat Ramana Reddy, Sudhakar Reddy) in connection with the Rs 5,700 crore bank fraud case.

CBI, ED and GST Officials were after Sujana Group of Companies since few months due to fraudulent practices happened over a period of time. The charges include setting up shell companies for bank loans and availing input tax credit fraudulently.   

Recently, The Supreme Court dismissed the petitions moved by Infiniti Metal Products Private Limited MD PV Ramana Reddy challenging the authority of GST Officials to arrest over Tax Evasion charges. Ramana Reddy is also the director of Sujana Companies and he is operating the premises of Sujana Group of Companies.

On February 27th, GST Officials raided the premises of Infiniti Metals and served notices to Ramana Reddy asking him to appear before them for issuing fake invoices since 2017 and availing input tax credit of Rs 224 crore showing a turnover of Rs 1,289 crore in a fraudulent manner. Mr. Reddy had given a miss to the questioning session and approached Supreme Court but failed to receive a favourable order.
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