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Liquor supplier duped of Rs 5.25 crore
Inturi Sambaiah, a cine make-up artist and liquor supplier complained to Director General of Police N Sambasiva Rao against Odisha-based Sri Sakti Distilleries (now Fire Water Distilleries Pvt Ltd) alleging that its director Rachakonda Umamaheswara Rao and 9 others duped him of Rs 5.25 crore in a sale deed.
Vijayawada: Inturi Sambaiah, a cine make-up artist and liquor supplier complained to Director General of Police N Sambasiva Rao against Odisha-based Sri Sakti Distilleries (now Fire Water Distilleries Pvt Ltd) alleging that its director Rachakonda Umamaheswara Rao and 9 others duped him of Rs 5.25 crore in a sale deed.
Addressing media here on Friday, Sambaiah said that he paid the amount to Umamaheswara Rao in January 2015 to purchase Sri Sakti Distilleries located at Komatalapet in Odisha. He also paid Rs 80 lakh towards licence fee and label registration for 2015 and 2016. He deputed Panchumarti Achyuta Ramaiah as director for the newly-owned firm.
However, Ramaiah had colluded with Umamaheswara Rao and misused the company properties. He also appointed his wife Soni Krishna as director and began cheating Sambaiah.By the time Sambaiah noticed how he was cheated by them, Andhra Bank had listed the properties under non-performing assets (NPA) for failure to pay back loan.
A regional bank turned down the request of Sambaiah to give more time to pay back the loan. While the issue was pending with court, Achyuta Ramaiah paid the bank arrears. Sambaiah further alleged that Umamaheswara Rao transferred the shares and appointed a few more directors. Sambaiah then approached the Odisha police and complained against Umamaheswara Rao and Ramaiah. Though a case was registered, no action was taken against them.
In the meantime, according to Sambaiah, the court ordered action against Umamaheswara Rao and Ramaiah and other directors. The police had failed to implement the court orders.Sambaiah said that he approached the state police chief seeking action against the culprits and justice.
