By establishing shell companies and indulging in circular trading, Omni Medi proprietor K Srihari Babu alias Babji caused losses to the tune of crores to the government and played a key in all the transactions with an ulterior motive with his associates and officials, the ACB said, adding that he had submitted false authorisation letter as authorised distributor of Hemocue HB Cuvettes manufactured by Hemocue AB Sweden and procured a purchase order from the IMS Director through his company – Legend Enterprises in 2017-18.
In a press release, the ACB said Srihari Babu was involved in circular trading with the firms established by him, his wife and a co-conspirator K Krupasagar Reddy. Using his personal influence, Srihari Babu took control of officials of Directorate of IMS either by bribing or threatening them. Hemocue HB Cuvettes manufactured by Hemocue were supplied to distributors at Rs.3,300 per unit.
The distributors supplied the same for Rs.4,800 per unit. The Legend Enterprises supplied the same items to the IMS Director for Rs.16,500 per unit charging an excess amount of Rs.11,700 per unit, the ACB release Telangana Today
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