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Andhra Pradesh
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Hyderabad
Four from loan recovery agency arrested
Staff Reporter
Sundar Babu, Ramesh and Sridhar are partners of Elite Financial Service authorised by ICICI
HYDERABAD: The Punjagutta police on Monday arrested four persons in connection with the death of Government employee Y. Yadaiah, who died allegedly after he was detained by loan recovery agents in their office at Ameerpet.
The arrested Sundar Babu, Ramesh and Sridhar were partners of Elite Financial Service, an agency reportedly authorised by ICICI Bank to recover money from defaulters and their executive Raju.
The Punjagutta police station Inspector G. Narsaiah said that investigation had revealed that Raju had picked up Yadaiah from a bus-stop near Yapral on Friday last and forcibly took him to his office in Ameerpet to recover the loan amount.
Later, the agency’s three partners confined Yadaiah in their office and threatened him of dire consequences if he failed to repay the loan amount immediately, he said. Yadaiah’s family members alleged that the recovery agents had beaten him to death in the name of recovering money from him.
A case under section 342 (wrongful confinement) and 304 (culpable homicide not amounting to murder) was registered against the accused.
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