Hyderabad: Two Arrested For Cheating Bank

Hyderabad: Two persons who allegedly cheated RBL Bank Limited in Hyderabad to the tune of Rs. 2.72 crores by submitting forged documents were arrested by the Detective Department of Hyderabad Police on Wednesday.

According to the police, the couple Mannem Vinoda and Mannem Madukar Reddy along with A Bal Reddy, Moiz Pasha, Gujja Narsimha Reddy and others availed cash credit loan and term loan to the tune of Rs. 3.70 crore from the bank in 2015.

“They availed loan by submitting forged documents of a property located at Sheriguda in Ibrahimpatnam of Ranga Reddy district in 2015. When they failed to repay the loan the bank authorities checked the collateral securities and found that these were forged documents,” said Avinash Mohanty, Joint Commissioner of Police, Detective Department Hyderabad.

On a complaint from the bank a case was booked by the police. On Wednesday the police arrested Mannem Madukar Reddy and Mohd Moiz Pasha and produced them before the court. Efforts are on to trace and arrest the other suspects who are absconding, the official added.

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