Bangalore police have registered case against directors of Visakhapatnam-based realty firm Manyam Estates Private Limited and Navya Fracon Projects India Private Limited for defrauding a private non-banking financial company to the tune of Rs 16 crore. The directors – Manyam Vijay Kumar, his spouse Mogili Kanaka Subhashini and their relative Anala Swati – were accused of diverting the loan amount to their personal purposes. They have floated Manyam Sky Park project at Jakkuru in the garden city and availed themselves a loan of Rs 16 crore from the non-banking financial firm.
On the complaint of the firm, the Garden City police registered case against them. It was learnt that cases were filed against them in Visakhapatnam city too. Two cases have been registered with MVP Colony police station on the complaint of having duped the Bank of Baroda.
