Attachment of certain properties in misappropriation of 57.55 Crores


The Additional Director General of Police, Crime Investigation Department, A.P., Hyderabad in his letter sent a proposal seeking authorization to file an application in the Court of Prl. Special Judge for SPE & ACB Cases Court –cum-IV Addl. Chief Judge, City Civil Courts Complex, Hyderabad for attachment of certain properties held in the name of accused persons (1) Chunduri Venkata Koti Saikumar, Proprietor of Swal Computers, Begumpet, (2) Nanduri Venkata Raman, R/o. Flat No.204, Pavan Kuteer, Madhapur Hills, Kondapur, Hyderabad, (3) Naveen Sagar, the then Manager, Vijaya Bank, Raichur Brach and (4) Bondada Kesava Rao, S/o. Narayana Rao, R/o. Kamalanagar, ECIL., Hyderabad, who were responsible for the diversion of Fixed Deposits amount to a tune of Rs.57.55 Crores, pertaining to the Andhra Pradesh State Minorities Finance Corporation, Hyderabad, by using forged and fake documents, rubber stamps etc., duly adopting fraudulent means. The accused persons diverted the said amount to their personal bank accounts, and afterwards invested huge amounts to acquire movable and immovable properties.

After consideration of the said proposal, there is a reason to believe that the accused persons 1) Chunduri Venkata Koti Saikumar, Proprietor of Swal Computers, Begumpet, 2) Nanduri Venkata Raman, R/o. Flat No.204, Pavan Kuteer, Madhapur Hills, Kondapur, Hyderabad, 3) Naveen Sagar, the then Manager, Vijaya Bank, Raichur Branch and 4) Bondada Kesava Rao, S/o. Narayana Rao, R/o. Kamalanagar, ECIL., Hyderabad, have committed a scheduled offence under section 120-B, 409, 403, 420, 467 and 472 of the Indian Penal Code and acquired assets in the names of accused, their wives, children and other business partners etc.

The Government after examination of the matter, hereby authorize the Deputy Superintendent of Police (Investigating Officer) Economic Offences Wing, Crime Investigation Department, Hyderabad for filing an application in the Court of Prl. Special Judge for SPE & ACB Cases Court –cum-IV Addl. Chief Judge, City Civil Courts Complex, Hyderabad for attachment of the properties worth Rs.12,09,32,953-40, described in the Annexure I to IV to this Order, under section 3 & 4 of the Criminal Law Amendment Ordinance, 1944.

G.O.Ms.No.44 Dated:  18th May, 2013.  Read:

From the Additional Director General of Police, C.I.D., A.P., Hyderabad, letter C. No. 2650/C-13/CID/2012, dated 16.03.2013 & 06.04.2013.

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