Tuesday, May 03, 2005
Tuesday, May 03, 2005 |
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Chennai
Staff Reporter
CHENNAI: : The city police on Monday arrested a man on the charge of duping several businessmen by promising them loans from foreign sources. The Central Crime Branch police said they had received complaints from a businessman in Nasik and a financial consultant in Kolkata that Adikesavan, a resident of MKB Nagar, Vyasarpadi, had taken nearly Rs. 2 crores from them on the promise of getting them about Rs. 40 crores as loan from abroad. The terms for the loans were lucrative. Based on the complaint, the police on Monday raided Adikesavan's residence and seized four cars, two motorcycles, about 1.5 kg of gold jewellery, 102 gold coins, more than 10 cell phones and several land documents, and sealed his office. On interrogation, Adikesavan revealed that one of his contacts in New Delhi had asked him to find businessmen who would be interested in taking loans, said T.S. Lakshminathan, Assistant Commissioner of Police, Central Crime Branch.
Probe into NGO connection
The police were also probing his connection with an NGO working among Scheduled Castes and Scheduled Tribes. Ashish Vijay Singh Pardesi, a floriculturist from Nasik, said Adikesavan had taken Rs. 83 lakhs from him, after promising that he would get NRI loans of several crores to be later converted as a gift. Mr. Pardesi had filed a complaint in September 2004 and he later petitioned the Commissioner seeking action and help to recover his money. Mr. Lakshminathan said another complaint was filed by Rajendra Mohan Dutt, a financial consultant from Kolkata, who said Adikesavan had taken Rs. 1.1 crores from 17 of his clients promising them loans from abroad. The police booked Adikesavan under Sections 406 and 420 of the Indian Penal Code for breach of trust and cheating.
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