CID Telangana Special Team Arrests Krushi Co-operative Urban Bank Case Accused in Andhra Pradesh
Hyderabad(Sep, 25): In a significant development, the Special Execution Team of the Criminal Investigation Department (CID) in Telangana apprehended Kagithala Sreedhar, one of the accused (A-3) in the Krushi Co-operative Urban Bank case. This case stems from a complaint filed by Dr. M.V. Kumar and other depositors who alleged that the bank’s Chairman & MD, Kosaraju Venkateshwara Rao, along with other directors and staff, had embezzled a staggering sum of Rs. 36.37 Crores by fraudulently collecting deposits and subsequently closing the bank’s operations in 2001, leaving depositors high and dry. The alleged misappropriation involved a web of deceit, including the creation of fictitious loan accounts, fabrication of documents, and falsification of records.
The case was initially registered at the Mahankali Police Station, Hyderabad, and later transferred to CID for further investigation in 2001. Under the direction of B. Ram Reddy, S.P, CMS, CID, Telangana, and at the behest of ADG, CID, special teams were formed to execute Non-Bailable Warrants (NBWs) against the accused.
On September 23, 2023, the CID’s Special Team successfully located and arrested Kagithala Sreedhar, who had been evading court proceedings and against whom an NBW was pending at MSJ-Special Court, Nampally, Hyderabad. Sreedhar, aged 51, formerly a Director of Krushi Co-operative Urban Bank, was residing in Andhra Pradesh at the time of his arrest. He was apprehended in Srirampet, Palakollu (Town) PS, West Godavari District, A.P. State, and subsequently produced before the Hon’ble Court, where he was remanded to judicial custody.
The diligence and dedication of the Special Execution Team, comprising G. Murali Kumar, Inspector of Police, Ch. Thirupathi, Sub Inspector of Police, J. Ratnaji Rao, ASI-11, Younus Khan, ASI-1735, and B. Mahender, PC-2807, have been lauded by Addl. DGP, CID Mahesh M. Bhagwat-IPS, who has announced that the team will be duly recognized and rewarded for their efforts. The case continues to be pending trial at the Hon’ble MSJ- Spl. Court, Nampally, Hyderabad
 in Telangana apprehended Kagithala Sreedhar, one of the accused (A-3) in the Krushi Co-operative Urban Bank case.){kind=link}