Two arrested by Vizianagaram police
SP B Rajakumari producing the accused before the media in Vizianagaram on Monday
Vizianagaram: Employees of a cashew trading company were arrested on Monday for filing a fake compliant with police with an objective to claim insurance money.
Speaking to the media here, District SP SP B Rajakumari informed that recently D Vasudev Girish, DGM of Vizianagaram based V-One firm engaged in raw cashew nut trade and G Manoj Kumar, business manager of a New-Delhi based company, Kissandhan Agri Financial Services Pvt Ltd, had filed a police complaint that raw cashew nuts in 350 bags worth Rs 24 lakh was stolen from their warehouse located at Modavalasa under Denkada mandal of Vizianagaram district. The duo was arrested after the police investigation found that their compliant was fake and their aim is to claim insurance amount from SBI insurance company.
Raja Kumari said that on October 24, Manoj Kumar lodged a complaint with Denkada police station about the theft. Inspector K Sridhar investigated the case and observed that on October 22, raw cashew nuts were stolen from the warehouse and the stolen nuts were loaded in a lorry and shifted to another location.
The investigation has revealed that the Vizianagaram based V-One firm engaged in raw cashew nut trade, stored the raw-cashew in the warehouse at Modavalasa.
Managing Director of V-One, N Viswanatham, DGM Vasudev Girish, AGM Ch Venkata Rao and also Manoj Kumar of Kissandhan Agri Financial Services Pvt Ltd were involved in the theft to claim the theft insurance to the tune of Rs 60 lakh form SBI and to sell the stolen cashew nut to get money.
The police said that V-One has availed a loan from Rs 1.6 crore from the Kissandhan Agri Financial Services Pvt Ltd by depositing the raw cashew nut in the warehouse of the firm and it was insured with SBI. However, V-One managed to repay around Rs 1.2 crore and they failed to repay the remaining amount as the cashew business was stopped during the lockdown.
When Kissandhan Agri Financial Services Pvt Ltd was pressurising V-One for the remaining payment, D Vasudev Girish, G Manoj Kumar and others hatched a plan and stole the stored cashew nut from the warehouse to claim the insurance from SBI. However, the police busted the fake theft case, seized the cashew and nabbed the key accused persons.
The police also launched manhunt for two more persons N Viswanatham and Ch Venkata Rao.