Bizwoman, CA Booked In Rs 19 Crore Fraud Case

Hyderabad: Kushaiguda police registered a case against a businesswoman and chartered accountant for cheating a businessman of more than Rs 19 billion in connection with the Telangana government’s supply contract for KCR Kits. The complaint was filed by a 52-year-old businessman who runs Sahan Enterprises. He stated that Sirisha Rani, the owner of Maa Yarn and Fibers, asked him for help in the delivery of products for the KCR Kit scheme of TMSSIDC (Telangana State Medical Services Intrastructure Development Corporation), for which he had a tender but could not deliver, and handed over the supply to the complainant in return for 1 percent commission. An agreement was also made where the complainant procured the kits in his own name, the payments were made through his company and eventually the dues were transferred to him.

The victim stated that although Sirisha Rani received payment from TMSSIDC between 2017 and 2021, it did not pay her this amount. When he expressed disagreements, the duo decided to appoint Armoor Aravind, a chartered accountant with ABNK & Associates, to audit the accounts. However, the victim alleged that the CA delayed the report for two years and later issued an outdated certificate which allegedly misrepresented the actual figures showing Rs 55 lakh while claiming that the actual amount was Rs 19.9 lakh. The victim accused both Sirisha and Aravind of colluding and concealing records to misuse their justified payments. Based on his complaint, Kushaiguda police filed a complaint for cheating and breach of trust under Sections 420 and 406 of the IPC. Police said that the case was between two companies and a CA and that the investigation was ongoing.