The Central Crime Station (CCS) of the Hyderabad police has registered a case against the managing director of a private infrastructure company and three Punjab National Bank (PNB) officials following a complaint alleging that a commercial property worth ₹17.1 crore was mortgaged to secure a ₹25 crore loan without the seller receiving the agreed sale amount.The complaint was filed by Banjara Hills-based businessman Vemula Satya Murthy, 69, who alleged that he was cheated in the sale of Sriharsha Complex, a commercial property located in Malakpet.According to the FIR, Darishala Naresh Chowdary, managing director of DNC Infrastructure Pvt. Ltd., agreed to purchase the property in November 2024 and showed a purported PNB loan approval letter as proof of his financial capacity. Based on the assurance, the complainant executed a registered sale deed without receiving the sale consideration.The complainant alleged that Mr. Naresh Chowdary issued cheques towards the payment but requested that they not be presented, citing delays in loan disbursal. After the cheques expired, fresh cheques were issued under a memorandum of understanding in February 2025, acknowledging the pending payment. However, the cheques allegedly bounced in June 2025 due to insufficient funds.The FIR states that the complainant later learnt that Mr. Naresh Chowdary had obtained a ₹25 crore business loan from PNB by mortgaging the same property.The complaint alleges that PNB officials Branch Head Ramesh Babu, Circle Head Arvind Kolra and Chief Manager Sundeep Katchi failed to conduct mandatory verification and colluded in sanctioning the loan.The CCS registered a case under relevant sections of the Bharatiya Nyaya Sanhita against the accused, including DNC Infrastructure Pvt. Ltd. The investigation has been handed over to the Economic Offences Wing. The version from the bank officials’ were not available. Published - August 01, 2026 08:18 pm IST