Hatch Studios Private Ltd involved in bank fraud case. Officials of the economic offences wing of Central Bureau of Investigation, Chennai have registered criminal cases against four software companies in Hyderabad, Vijayawada and Visakhapatnam, their 16 directors and others for submitting fake and forged property documents and duping the State Bank of India by obtaining loan amount worth Rs 31.68 crore.
Since, CBI officials received several complaints from Ajoy Kumar Pandit, deputy general manager of SBI and controller of the Overseas branch in Visakhapatnam that the four companies — Global Prosolution Private Limited, Mammoth Technology Services (I) Private Limited, Hatch Studios Private Limited and Malvi Software Solutions Private Limited and their directors allegedly duped the bank by submitting forged property documents for loans taken.
Additionally, CBI officials have registered two FIRs, naming 16 persons as accused; 14 of them are residents of Hyderabad (Ameerpet and Attapur), Vijayawada and Vishakapatnam. Two others are natives of Trivandrum in Kerala and Bellary in Karnataka.Against the public servants cases of criminal conspiracy, cheating, dishonesty and criminal misconduct registered. Hence, the bank claimed to have taken action against four of its officials who were involved in the cheating.
Directors of Globalteck Prosolutions approached SBI for loans for business purpose. It availed various credit facilities of Rs. 8.62 crore. It submitted fake and fabricated property sale deeds as collateral. Mammoth Technlogies Services officials obtained 6.12 crore. Hatch Studios Private Ltd officials for Rs.8.68 crore. Therefore, Central Bureau of Investigation is likely to raid the properties of the accused.
The investigation of Hatch Studios Private Ltd and other companies done in detail.The loans were taken using fake and fabricated property sale deeds, claimed the investigation officials after an internal inquiry, the bank has taken action against four of its officials for being part of the cheating CBI is likely to raid those named soon.