Saturday, Dec 25, 2004
Saturday, Dec 25, 2004 |
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Bangalore
By Our Staff Reporter
BANGALORE, DEC. 24. The Bangalore district police have arrested a partner in a construction company on charges of submitting forged letters of bank guarantee worth Rs. 4.41 crores to the Bangalore Water Supply and Sewerage Board (BWSSB) and the Maharashtra State Electricity Board (MSEB). The police gave the name of the accused as Pattabhi Rama Reddy (39) of BTM 2nd Stage. The Anekal Magistrate has remanded him to police custody till December 31. The police said Reddy, a partner in Srimauli Builders, and Ashok Kotecha, another partner, allegedly forged bank-guarantee letters of Union Bank of India's Kalkere branch on Bannerghatta Road and submitted them in furtherance of their construction business. The police reportedly found pro forma of bank guarantee in a computer and they have seized it. The accused allegedly gave two letters for bank guarantee worth Rs. 2.02 crores to the BWSSB and five letters for Rs. 2.39 crores to the MSEB between March 2003 and October 2004. The Bannerghatta police have registered seven cases of fraud.
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