The bank's industrial finance branch had filed a complaint against M/s Totem infrastructure Limited, its promoter Tottempudi Salalith and director Tottempudi Kavita, both residents of Hyderabad, and said they are absconding.
According to the complaint, Loan was taken from a consortium of eight banks including Union Bank of India.
The loan was declared a non-performing asset on June 30, 2012, and the complainant said that the total amount due to the consortium was Rs 1,394.43 crore.
The promoter and director of the company allegedly diverted funds illegally.
Tottem Infrastructure is a construction company and undertakes road projects, water works and building construction from companies like L&T and RITES.