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Trinity, Goldstone cos got loans, compensation from Metro Rail?
Investigators probing the biggest-ever land registration scam that took place in Miyapur are looking into the allegations that the promoters of Trinity Infra Ventures Limited and Goldstone Infra secured loans using the government lands that were got registered in their names through illegal means.
​Hyderabad: Investigators probing the biggest-ever land registration scam that took place in Miyapur are looking into the allegations that the promoters of Trinity Infra Ventures Limited and Goldstone Infra secured loans using the government lands that were got registered in their names through illegal means.
It is said the promoters of the two companies have secured loans worth Rs 336 crore from three nationalized banks – Bank of Baroda, Syndicate Bank and Punjab National Bank – offering the government lands as security. Police sources said the investigators will look into whether any officials of the banks were also involved in the scam.
The probe will also dig out any other loans secured by the fraudsters offering the government lands as security. Sources further said that the investigators were also probing whether Goldstone Infra directors – P S Prasad, his wife Indrani Prasad and daughter-in-law Mahita Caddel – have availed or applied for compensation from the Metro Rail authorities for the land acquired by it for the metro rail project.
Meanwhile, sources said the directors of real estate companies have not just got the government lands registered in their names but transacted with several government agencies to make easy money. The accused may have transferred the money out of the country through hawala operations thereby resorting to money laundering also.
