HYDERABAD: Janapriya Engineers Syndicate Private Limited (JESPL) has filed a criminal complaint with the Central Crime Station (CCS), Hyderabad, alleging that SREI Equipment Finance Limited and its officials orchestrated a fraudulent scheme involving fabrication of accounts, dual-crediting of payments and coercive recovery actions amounting to about ₹73 crore.
According to the complaint filed by authorised signatory K. Kranti Kiran Reddy, the company accused SREI Equipment Finance and several officials of inducing it into a loan agreement in 2017 through alleged misrepresentation, despite an earlier 2015 settlement governing outstanding dues. The complainant alleged that payments made under the settlement were simultaneously credited in two separate accounts, inflating liabilities.
The complaint names SREI Equipment Finance Limited, along with officials including Abhinandan Musrif, Biswanath Das, Pramod Kumar Shah, Chandrashekar Rao and others, alleging criminal conspiracy, falsification of financial records and coercive recovery proceedings.
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JESPL claimed that after restructuring dues in 2015 for ₹13.5 crore, SREI allegedly induced it to sign a fresh loan agreement in July 2017 for ₹19.53 crore, which the complainant says was only for "internal accounting purposes" and involved no actual disbursement. The company alleged that the same-day "in-and-out" transactions indicate the loan account was closed immediately, but was later used to raise inflated demands.
The complainant further alleged that despite making payments under the settlement, SREI issued demand notices under SARFAESI and later claimed ₹73 crore, including substantial overdue and penal charges, based on what it termed fabricated accounts. The company also alleged forged documents, tampered agreements, and misuse of personal guarantees in proceedings before tribunals.
JESPL requested police to register an FIR against the accused persons for offences including cheating, criminal breach of trust, falsification of accounts, forgery and criminal conspiracy, and said it would submit supporting documents during investigation.