Live
- Haryana sees 67.90 pc polling, says Chief Electoral Officer
- Gujarat to mark 23 years of progress under Narendra Modi's leadership with 'Vikas Saptah'
- Women’s T20 WC: Too soon to say anything, medics are looking at it, says Smriti on Harmanpreet’s injury
- World Cerebral Palsy Day: Raising awareness key to build inclusive society
- Militants in Gaza fire three rockets into Israel
- Two paramilitary fighters killed in IS attack in eastern Iraq
- Asiana to increase excess baggage fees on international flights in January
- Lebanon receives 25 tonnes of medical aid from UN agency
- EAM Jaishankar calls on visiting Maldives President Muizzu, appreciates commitment to enhance bilateral ties
- 1st T20I: Mayank Yadav, Nitish Reddy handed debuts as India opt to bowl against Bangladesh
Charge-sheet filed against Bommarillu Farms
The Crime Investigation Department on Wednesday filed its first charge-sheet against multi-crore Bommarillu Farms and Villas India Ltd and its sister concern under Sections 420, 403, 406 and 120 (B) of IPC and Section 5 of AP Protection of Depositors and Finance Establishment Act-1999 and Sections 4,5 and 6 of Prize Chits and Money Circulation Schemes (Banning) Act 1978.
Visakhapatnam: The Crime Investigation Department on Wednesday filed its first charge-sheet against multi-crore Bommarillu Farms and Villas India Ltd and its sister concern under Sections 420, 403, 406 and 120 (B) of IPC and Section 5 of AP Protection of Depositors and Finance Establishment Act-1999 and Sections 4,5 and 6 of Prize Chits and Money Circulation Schemes (Banning) Act 1978.
The charge-sheet was filed three years after the investigation was conducted by the CID.The CID has named 10 accused in the charge-sheet which includes Managing Director of Bommarillu Farms and Villas India Ltd, Rayala Raja Rao, 45 and his wife Rayala Swathi Raja, 40, firm Director and his brother RayalaLaxminarayana and others, who are the directors and managers of various wings of the firm. Rayala Raja Rao also started BommarilluFoods and Consumer Products,
BommarilluConstructions and BommarilluCinema. Various schemes were introduced to public under Bommarillu Farms and Villas India Ltd, through more than 3,000 agents and other staff promising the investors of hefty returns.
The firm has collected deposits from the depositors by luring them with offers of huge returns with fraudulent and dishonest intention and cheated the public under the guise of real estate business. The deposits were collected violating all the RBI norms.The scam, which was initially investigated by Vizag city police, was later handed over to the CID wing.
