New Delhi, Aug. 12 -- The Central Bureau of Investigation (CBI) today conducted coordinated search operations in connection with a case related to the Bank fraud of Rs 120.8 crore against Padmaadevi Sugars Limited.
The searches were conducted at the premises belonging to Appu Hotels Ltd and Otium Wood Industries.
These two Companies have suspicious transactions with Padmaadevi Sugars Limited.
This case was registered against M/s Padmaadevi Sugars Limited, a Kanchipuram-based company at CBI, BSFB Bengaluru Branch following the directions of the High Court of Madras.
The case was registered based on a complaint from Indian Overseas Bank, (Chennai Branch), alleging that a Kanchipuram-based company, along with its associated entities and un...