Andhra Pradesh - Vijayawada   

Six held on charge of duping bank

Staff Reporter

VIJAYAWADA: The Patamata police on Tuesday arrested six persons on the charge of cheating a bank by borrowing Rs. 77 lakhs by submitting forged documents. They were Kommeneni Bala Venkateswara Rao, Tumati Chandrahasa, directors of Krishnaveni Polymers Private Limited, Jyesta Pavankumar of Poranki, Gattu Sambasiva Rao of Maruthi Colony, Vijayawada, Nerella Ramachandra Rao of Poranki and Perla Tulasidas of Labbipet.

The police said Bala Venkateswara Rao and Chandrahasa borrowed a term loan of Rs. 17 lakhs and a cash credit of Rs. 25 lakhs from Union Bank of India in January 2004. In November 2004, they again borrowed Rs. 35 lakhs.

As the borrowers were not repaying the loan, the bankers contacted J. Subrahmanyam, one of the guarantors, only to know that he had never given guarantee to any bank. The bankers also found that the photograph attached to loan application was not that of Mr. Subrahmanyam. On a complaint from bank manager G. Ramakrishna, the police found that forged documents were used to secure the loan. The police suspected the involvement of two others and a couple of employees working in the bank in the offence.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

VMC silver jubilee celebrations yet to make an impact
Left parties, TDP stage rail roko separately
Boy, girl end lives in suicide pact
Six held on charge of duping bank
Farmers on a study tour to Tamil Nadu
Superwhizz students bag top ICWAI ranks
Around the City
In Vijayawada Today

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu