Hyderabad: The Central Bureau of Investigation (CBI) has registered a case against a senior official of the Bharat Heavy Electricals Limited (BHEL) and three other individuals for allegedly diverting company funds and carrying out financial irregularities, following an internal complaint from the firm’s vigilance wing.
The CBI conducted searches at six locations across Telangana and Andhra Pradesh on Friday.
Details of accused
Those cited accused in the case include G. Siva Nageswara Rao, deputy financial officer at BHEL; Somereddy Marakala, former accounts manager and senior general manager; Ch. Ramakrishna of Hyderabad, and Raavi Srinivasa Rao of Attapur.
According to the complaint filed by Chief Vigilance Officer Siv Pal Singh, funds due to Shankaranarayana Constructions Private Limited, a contractor associated with BHEL, were illegally diverted to unrelated accounts.
The inquiry allegedly found that dues of other companies — Power Mech Projects Ltd. and Vasavi Electro Systems Pvt. Ltd. — were also redirected without authorisation.
Payments made to unrelated beneficiaries
During scrutiny of debit advice slips, investigators discovered payments made from these firms’ accounts to unrelated beneficiaries. The CBI found that the key accused, Siva Nageswara Rao, had diverted Rs 68 lakh for personal gain.
Searches were carried out at his residence and those of his associates in Hyderabad, Guntur and Palwancha.
