Thursday, Sep 16, 2004
Thursday, Sep 16, 2004 |
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Hyderabad
By Our Staff Reporter
HYDERABAD, SEPT. 15. The Detective Department on Wednesday arrested a private firm director, C. Balasubramanyam, who was charged with securing Rs. 60 lakhs loan from Vijaya bank by submitting fabricated documents as collateral security. Balasubramanyam was earlier arrested on charge of involvement in the killing of Neela Krishna Co-operative Urban Bank chairman by the Malkajgiri police and presently on bail, according to a press release. He secured Rs. 60 lakhs loan from Vijaya bank in the name of M/s Western Industries Ltd. Verification by the banker proved that the land shown in collateral security was different from what he had actually shown. It was learnt that he had "dishonestly obtained a permit certificate for construction from HUDA on the same land.
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