Hyderabad, March 18 (Maxim News): The WCO Team-II, CCS, DD, here on Saturday arrested the accused Akella Pavan Kumar and Andole Shankerlal Anil Kumar @ Anil in Cr.No.2/2017 u/s 419,420,468,471 IPC r/w 120(B) IPC of CCS.
Pavan Kumar and A. Anil Kumar colluded with Ch. Subhashini and other persons colluded each other and hatched a plan to obtain loan by impersonating other person in place of Chintalapudi Subba Rao and mortgage the property admeasuring 200 Sq. Yards, including 10’ side passage, situated at Boduppal vide Doc. No. 6338/2013 with SRO, Uppal, Hyderabad and obtained cash on credit loan Rs. 40 lakhs from the complainant bank i.e. Bank of India, Adikmet Branch, Secunderabad, then intentionally defaulted in payment of the EMIs and diverted the funds to their other companies.
Akella Pavan Kumar and Andole Shankerlal Anil Kumar were arrested and being produced before the Court. Two persons are absconding, police said.
Under the close supervision of Jogaiah, Asst. Commissioner of Police, CCS, DD, i/c Addl. DCP EOW, CCS, Hyderabad, K. Ram Kumar, Asst. Commissioner of Police, A-Division, CCS and B. Ravindra Reddy, Inspector of Police, WCO Team-II, CCS, Hyderabad G. Hari Krishna Reddy, Sub-Inspector of Police is investigated the case. (Maxim New)