Hyderabad : On October 1st, 2009, Annapurna, the appointed liquidator of Kanyaka Parameshwari Co-operative Bank located in Kukatpally, Hyderabad, took action by filing a complaint with the Economic Offences Wing (EOW) of the Criminal Investigation Department (CID). Her complaint outlined a concerning situation where the bank’s Board of Directors and employees had allegedly engaged in fraudulent activities, resulting in substantial losses amounting to Rs 2.86 crores for small-scale depositors. The accusations included the sanctioning of benami loans, manipulation of accounts, and the diversion of funds for personal enrichment. This led to the registration of a criminal case under various sections of the Indian Penal Code (IPC) including 409, 420, 406, 477-A, and 201, as well as Section 5 of the Andhra Pradesh Protection of Depositors (Financial Establishment) Act, 1999. After a thorough investigation, a charge sheet was filed in 2015.
However, a notable twist arose as one of the prime accused, A15 Kakarlapudi Krishna Varma, a 65-year-old bank employee, and his spouse A3, Kakarlapudi Padma, also known as Roopa, aged 50, were found to be absconding since the Reserve Bank of India’s inquiry in 2005. These individuals were accused of deliberately using false identities, with Roopa using the name Padma, to conspire with their co-accused and manipulate records. This intricate web of deceit led to the issuance of Non-Bailable Warrants (NBWs) against them in 2016.
Finally, on August 27, 2023, a major breakthrough was achieved when the accused were apprehended in Hyderabad by a team consisting of Gangadhar, DSP, Shiva Rao, Inspector of Police, Khaleel ASI, and Tirupati HC. Their arrest marked the culmination of a relentless pursuit spanning several years. The efforts of the EOW team received praise from Mahesh M Bhagwat-IPS, Addl. Director General of Police (CID), who commended their dedication and accomplishment in bringing the accused to justice
 of the Criminal Investigation Department (CID).){kind=link}