CBI books Hyderabad firm for cheating banks of â¹1,700 crore
The Central Bureau of Investigation (CBI) has booked Hyderabad-based telecom equipment manufacturer VMC Systems and its promoters in an alleged bank fraud case of â¹1,700 crore on a complaint by state-owned PNB. The bank alleged that â¹539 crore was outstanding towards itself while the remaining is pending towards the SBI, Corporation Bank, Andhra Bank and JM Financial Asset Reconstruction Company.