Home Scam/Fraud Sujana Group: Sujana Group’s Singapore nexus, an ex-politician’s obscure company, and ‘investments’...

Sujana Group: Sujana Group’s Singapore nexus, an ex-politician’s obscure company, and ‘investments’ worth crores

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The CBI raids the Sujana Group office of TDP Rajya Sabha MP Sujana Chowdary at Nagarjuna Hills in Hyderabad on June 1, 2019.

Synopsis

A Singapore-based company, linked to one of the alleged offshore shell companies being probed by the ED and CBI as part of its Sujana Group investigation, ‘invested’ over INR10 crore in an unlisted company whose director is Parakala Prabhakar — a fellow party member of YS Chowdary while they were in Telugu Desam Party.

In an earlier story we delved into how Hyderabad-based Sujana Group, with exposure in sectors ranging from steel to electric appliances and power to telecom infrastructure, found itself in the middle of the global depositary receipts (GDR) scam.There, we mentioned that the group — one of the biggest bank defaulters in India — is also being investigated by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) for

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