Bizman held for cheating firm of `4.43cr

A businessman from Coimbatore, Tamil Nadu was arrested by the Hyderabad CCS police for cheating a firm to the tune of `4.43 crore.

The accused was identified as R. Ramesh Babu, said the CCS police. The arrest was made following a complaint from Daniel Solomon, who is a partner in Arpitha Diagnostics at Habsiguda, wherein he stated that as per the requirements of medical equipment, Dr Arpitha, the other partner, approached Astler Medicss, represented by its business manager Ramesh Babu to supply GE 1.5 Tesla Supercon MRI equipment.

“Babu agreed to supply the said equipment with purchase order/quotation and the total amount for the purchase was to the tune of `4,43,10,000, which was paid by the victim’s firm through its banker i.e. Bank of Maharashtra, SD Road, to the account of Astler Medicss. The victim firm paid the said amount by availing loan from Bank of Maharashtra. But Babu failed to supply the said equipment with malafide and dishonest intention to cheat the complainant firm and caused huge loss,” said the police, adding that the accused is reportedly absconding since registration of the FIR.

The enquiries revealed that he has also taken about `10 lakhs from one Bala Murugan of Krishnagiri of Tamil Nadu for supply of an X-ray machine and others and did not supply.

On receipt of credible information about movements of the accused in Krishnagiri, Tamil Nadu, a special team from CCS is deputed to apprehend him.

“However, by the time the team reached there, the accused anticipating his arrest moved place to place Krishnagiri, Dharmapuri, Selam, Thanjavur, Trichy of Tamil Nadu. The police then tracked him and arrested him with the assistance of local police in Chennai and brought him to Hyderabad,” added the police.