A cheating case has been registered against Kodela Sivaram, son of TDP leader and former Speaker of the Legislative Assembly Dr. Kodela Sivaprasad. The victims approached the court alleging that he had cheated them after investing in his company, and a case was registered as per the orders of the court.
On the request of Shivaram and his wife Padmapriya, in 2016 Paladugu Balavenkatasuresh of Pedaravur village of Tenali Mandal of Guntur district invested Rs 24.25 lakhs in Kaira Infra Company owned by Shivaram. Three others have invested around a crore.
The transaction was done through cheques, it is learned. Shivaram and his wife made an agreement to return their investment and the profits in the following year 2017.
However, the victims approached the Tenali court as the money was not returned despite repeated requests.
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.
