IANS | 03 May, 2024
The Telangana Police's CID has arrested a couple absconding for 11
years after defrauding a bank and finance companies to the tune of Rs 87
crore, a police official said on Friday.
Manikonda Anjaneyulu and his wife Manikonda Reeta were arrested in Bengaluru, police said.
According to Additional Director General, CID, Shikha Goel, the couple had been absconding since 2013.
Anjaneyulu
was the Managing Director and his wife the Director of Adarsh
Communications Pvt. Ltd, a company dealing with the import of
communication equipment and the sale of multi-brand cellular phones and
other products.
The couple had approached the State Bank of
India's (SBI) Balanagar branch for financial assistance to meet their
working capital and obtained a loan of Rs 27 crore.
After availing
the loan, the couple became defaulters and absconded. On a complaint by
bank officials, a case was registered in 2013 against them under
sections 420, 406 and 403 of the Indian Penal Code at Balanagar Police
Station, Hyderabad.
The case was subsequently transferred to CID.
During
the course of investigations, it came to light that the accused was
also involved in four other cases in Hyderabad City and one case in
Cyberabad Commissionerate in which they cheated finance companies and
private investors to the tune of Rs 60 crore.
On the direction of
ADG Goel, a special team led by investigation officer DSP P. Sreedhar,
was formed recently, and traced and arrested the couple from Bengaluru.
