AP: Cheating case booked against Kodela Sivaram
The victims approached the court alleging that Kodela Sivaram cheated them after investing in his company, and a case was registered consequent on court orders
Tenali: A cheating case has been registered against Kodela Sivaram, son of former Speaker of the Legislative Assembly and Telugu Desam Party leader late Dr. Kodela Sivaprasad.
The victims approached the court alleging that he had cheated them after investing in his company, and a case was registered consequent on court orders.
According to reports, in the year 2016, on the request of Sivaram and his wife Padmapriya, Paladugu Balavenkatasuresh of Pedaravur village of Tenali mandal of Guntur district invested Rs 24.25 lakh in Kaira Infra Company owned by Shivaram.
Three others have also invested around a crore, the transaction done through cheques and Sivaram and his wife made an agreement to return their investment and the profits in the following year 2017.
However, when the money was not repaid even after repeated requests, the victims approached the Tenali court.
On Wednesday night, Rural SI Chirumamilla Venkateswarlu registered a case against Sivaram under sections 420, 407, 403, 386, 389, 120B, 506, 509 IPC, 156(3) CrPC as per the orders of the court on Balavenkatasuresh’s petition.
