Couple absconding since 2013 in fraud case held in Bangalore
Hyderabad: Telangana Crime Investigation Department (CID) arrested a couple - Manikonda Anjaneyulu and Manikonda Reeta – who are absconding since 2013 for their alleged involvement in financial fraud case.
The case is being investigated by CID, Sangareddy (Economic Offences Wing). Anjaneyulu was the Managing Director and his wife Reeta, a Director of Adarsh Communications Private Limited, a company dealing with import of varieties of communication equipment and sale of multi brand cellular phones and other products.
The couple approached SBI Balanagar branch for financial assistance to meet their working capital and obtained a loan of Rs. 27 crore. After availing the loan, the couple became defaulters and absconded. On a complaint given by bank officials, a case was registered at Balanagar police station and subsequently it was transferred to CID.
During the course of investigation, it came to light that the accused was also involved in four other cases in Hyderabad and one case in Cyberabad Commissionerate in which they cheated finance companies and private investors to the tune of Rs.60 crore.
The accused had been absconding since the registration of cases against them under provisions of Sections 420, 406 and 403 of Indian Penal Code (IPC) of Balanagar police station in 2013. Following directions from Shikha Goel, Additional DGP, CID, a special team led by the investigation officer DSP P. Sreedhar was formed recently.
The team made sincere efforts to trace out the accused and arrested them in Bangalore.