A cheating case has been registered against former YSRCP MLA Annabathuni Shivakumar from Tenali in Guntur district. The police have registered an FIR against him, his wife and another person on charges of cheating a finance company. The finance company has complained that they committed fraud by mortgaging the land they had already sold for a loan.

Going into details, this incident took place when Shivakumar was the Tenali MLA in 2019. His wife Annabathuni Pushpa, who is a director of APJ Implex Company, took a loan of Rs. 3 crore from IKF Finance Company of Vijayawada. Shivakumar is the guarantor for this loan. For this, a 1,200 square yard plot in Tenali was mortgaged.

However, after taking the loan, the installments were not paid properly. With this, the total outstanding including principal and interest exceeded Rs. 5 crore. The truth came to light when representatives of the finance company tried to seize the mortgaged property to collect the dues. According to Tenali Municipality records, only 700 square yards of the land was in Shivakumar's name, and the remaining 500 yards had been sold to others in 2012.

Srinivasa Rao, legal manager of IKF Finance, filed a complaint at the Tenali One Town police station alleging that the land that had already been sold was also shown as theirs and the entire 1,200 yards had been mortgaged and cheated. He alleged in his complaint that the fraud was committed by misusing his position as the then MLA and that irregularities may have taken place at the registration office level as well.

Based on this complaint, the police registered a case under various sections against Annabathuni Shivakumar, his wife Pushpa, and the company's managing partner Thunuguntla Srinivas. Tenali One Town CI CH Rambabu said that a case has been registered based on the complaint of the finance company and a full investigation will be conducted.