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Hyderabad: M B S Jewellers director booked by CCS for loan fraud
The Central Crime Station (CCS) of Hyderabad police booked the director of M.B.S Jewelers, Basheerbagh, Sukesh Gupta and his wife for allegedly committing a loan fraud of Rs. 110 crore.
Hyderabad: The Central Crime Station (CCS) of Hyderabad police booked the director of M.B.S Jewelers, Basheerbagh, Sukesh Gupta and his wife for allegedly committing a loan fraud of Rs. 110 crore. According to CCS cops they received a complaint from one E Venu Gopal, vice president of SREI Equipment Finance Ltd.
The complainant stated in his complaint that, Sukesh and his wife Neetu who are the partners in Aashi realtors in Basheerbagh approached the complainant along with two other directors Ravichandran and Suresh Kumar of Maharashtra-based real estate firm and urged him to provide a loan of Rs. 110 crore for enhancing their business.
All the four persons also mortgaged immovable properties along with a plot in Hafeezpet to receive the loan amount, said Venu Gopal in his complaint lodged with CCS police.
However, the accused persons were unable to return the EMIs as promised and the complainant sent them multiple reminders but no avail.
Hence, he decided to auction the property and after auctioning he recovered Rs. 102.65 crore but the entire amount was not recovered, so when he decided to auction the other property he realised that the another property was already sold to IRIS Hospitals Pvt Ltd. by the accused persons, said an officer of CCS. Acting on the complaint, when the cops raided the house of the accused he was absconding.
However, we received a tip-off again on Friday night that the accused was at the residence of Ravi Prakash (TV9 founder) and when we raided the residence, he managed to escape from the scene, said Avinash Mohanty, Jt. CP, of CCS.
He stated, "A case under section 420 (Cheating) and 406 (Punishment for criminal breach of trust) r/w sec 34 has been booked against the director and very soon we will arrest him."
