They declared ₹23.85 crore of steel stock to the bank. A month later the audit found ₹25 lakh.

The stock sheet said ₹23.85 crore. The audit found ₹25 lakh. Between those two numbers sits a public-sector bank takeover loan and a Central Bureau of Investigation first-information report.

On 18 August 2026 the Central Bureau of Investigation Anti-Corruption Branch Visakhapatnam registered a case against Omkara Vijayalakshmi Strips Private Limited, four directors, and unknown public servants and private persons. The complaint that moved the agency was dated 14 July 2026. It came from Chinari Srikanta Patro, Assistant General Manager, Union Bank of India, Vijayawada Zonal Office. The alleged wrongful loss to the bank is ₹24.81 crore. That rupee line is a complaint figure. It is not a court finding. This desk will keep it labelled that way.

The company was incorporated in 2017. It makes electric-resistance-welded and galvanised pipes and other steel products. The directors named as accused are Kota Bhanu Prasad, Kota Sravani, Kota Prudhvi Venkata Teja and Kota Rahul Sai Balaji. Naming a director on a first-information report is an allegation. It is not a judgment.

In 2024 the firm approached Union Bank’s Suryaraopeta branch in Vijayawada to take over a Karur Vysya Bank loan. The complaint says the financial statements submitted for that takeover were false. On 22 February 2024 the bank sanctioned fund-based and non-fund-based facilities totalling ₹24.98 crore — term loans, cash credit, bank guarantees and letters of credit. ₹24.98 crore is the sanction. ₹24.81 crore is the alleged loss. They are not the same number. This desk will not collapse them.

On 28 May 2025 the company declared stock of ₹23.85 crore. On 27 June 2025 a physical audit found stock worth ₹25 lakh. That is the mismatch that gives this cutting its hook. The complaint also says the firm failed to give supporting documents for book debts and age-wise debtor details. Substantial funds, on that telling, were remitted to Karur Vysya Bank without corresponding sales realisations. Transactions were routed through current accounts. Dealings ran with a limited set of entities. Director and statutory-auditor changes were made without the bank’s approval. Stock was moved without informing the bank. Each of those sentences is an allegation on the complaint paper. None of them is a conviction.

Two directors, the same filing says, resigned within six months of the sanction without prior approval and later floated Nerro Steels Private Limited. That new firm is reported as carrying a charge of ₹60.1 crore with Canara Bank. ₹60.1 crore is a reported charge on another company. It is not the Union Bank loss figure. This desk will not add it to ₹24.81 crore.

Major payments allegedly went to Maruthi Traders. Credits of ₹32.19 crore out of total credits of ₹67.54 crore came from Sri Durga Bhavani Steels. Those two rupee lines stay labelled as credits received. They are not recoveries. They are not a second alleged-loss total.

The offences booked on the paper are conspiracy, criminal breach of trust, cheating, forgery and use of forged documents, and Prevention of Corruption Act provisions against unknown public servants. Booked is the verb. Convicted is a different verb. This desk has no trial date and no recovery order on this card. It will invent none of them.

Vijayawada is the bank-branch city. Visakhapatnam is the Central Bureau of Investigation range that registered the case. NTR district holds the Suryaraopeta branch. This desk will not invent a factory gate address, a stock-yard survey number, or a named unknown public servant. Unknown stays unknown until the agency writes a name.

The honest picture is a 14 July 2026 Union Bank complaint, an 18 August 2026 Central Bureau of Investigation Anti-Corruption Branch Visakhapatnam first-information report, four named Kota directors, a ₹24.98 crore sanction dated 22 February 2024, a ₹23.85 crore stock declaration on 28 May 2025 against a ₹25 lakh audit find on 27 June 2025, a ₹24.81 crore alleged wrongful loss, a reported ₹60.1 crore Canara Bank charge on Nerro Steels, and credit lines of ₹32.19 crore and ₹67.54 crore that stay as credits. Until a court writes, every rupee on this card is allegation. The stock mismatch is the public interest. The conviction is not yet written.