Krushi Bank chairman's properties identified

By Our Staff Reporter

HYDERABAD, SEPT. 10. The CID officials probing the Krushi Bank scam have identified a total of 20 flats in G.S. Chambers, Nagarjuna Hills, Panjagutta, in the city owned by the Bank Chairman K. Venkateswara Rao and his family members. The plinth area of the flats varies from 373 sq. ft. to 1,125 sq. ft.

The police had issued a notice to the Sub-Registrar, Banjara Hills, not to transfer or register any transactions in connection with the above mentioned properties, a press release said.

Another property of 16.07 acres at Parawada industrial area in Visakhapatnam district, reportedly bought by the Bank Chairman by investing an amount of Rs. 54 lakhs, was also identified during the investigations. The Sub-Registrar, Sabbavaram, Visakhapatnam district, was asked not to register any transactions with regard to the land.

So far, the police had seized two Mercedes Benz cars, three Tata Indica cars, one Ceilo car, one Tata Sumo van, one Maruthi car, one Opel Astra car, one Massay Ferguson tractor, one Bajaj Chetak scooter and one Sujuki Samurai motorbike in connection with the case.

A total of 14 bank accounts worth Rs. 1.76 crores were freezed by the police. This included two separate fixed deposit of Rs. 35 lakhs and Rs. 8.9 lakhs by Krushi Bank in APCOB, Troop bazar branch and other accounts of Rs. 55 lakhs in HDFC, Rs. 74 lakhs in HDFC and Rs. 1.52 lakhs in Global Trust Bank.

The police have also identified 15 pieces of lands under various survey numbers and one cattle shed owned by the family members of the Bank Chairman in his native village Ventrapragada of Peddaparupudi mandal in Krishna district.

Another five sites worth about Rs. 19 lakhs, owned by Venkateswara Rao's family members in Gollapalli village of Nuzivedu mandal in Krishna district were also identified by the police. Of this, one piece of land measuring 25.82 acres was in the name of bank's Vice-Chairman K. Venu Gopal and another 14.88 acre land was in the name of K. Sunitha, one of the directors of the Bank.

It was found that K. Venu Gopal and K. Sunitha sold out on June 27, 2001, four pieces of land measuring 10.96 acres, 12.14 acres, 14.86 acres and 11.88 acres in Gollapalli village. These lands were worth about Rs. 15 lakhs.

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