HYDERABAD: The High Court on Thursday directed the Cyberabad and Khammam district police to transfer the case files on the alleged transfer of funds of companies under liquidation from State Bank of Hyderabad and several other banks to the Central Bureau of Investigation.
Justice Challa Kodandaram was dealing with a petition filed by Allwyn Watches Ltd represented by its official liquidator, seeking a probe into the fraudulent transfer and misuse of its Rs 9-crore fund lying with SBH. Malkajgiri police and Khanapur police had registered cases of alleged fraud of transfer of funds of the official liquidator.
Earlier, the judge sought the opinion of the police authorities to transfer the case files pending in Malkajgiri with regard to alleged fraudulent transfer of Rs 9 crore and in Khanapur pertaining to Rs 10.67 crore of OL funds.
