He submitted fabricated documents to banks Man dupes 6 NBFCs of `77L

A man who duped six banks of `77 lakh after taking personal loans using forged documents was arrested by North Zone police along with two bank agents on Thursday. Police seized `8.62 lakh in cash and fake documents from their possession.

Acting on reliable information, the police nabbed Kancharla Srinivas, 44, and bank agents Chaluvadi Mallikarjuna Rao, 39, and Marella Nagi Reddy.

DCP, North Zone, B. Sumathi, said the first complaint was lodged with the Punjagutta police by Capital First Limited. It stated that Srinivas had taken a personal loan for `15 lakh on March 15, 2017, and had failed to repay the EMIs. The repayment was divided to EMIs of `39,501 over a 48-month period.

Capital First said that when Srinivas defaulted on the repayment, its personnel went to the address he had mentioned but found that no such person was available there. Upon company verification, it was revealed that Srinivas had submitted fabricated KYC documents. He had submitted a PAN card bearing a different name as that of his father from that mentioned in the application. He had claimed to be an employee of Wipro Limited, which was also found to be false.

Ms Sumathi said Srinivas had procured various fake identity and PAN cards and payslips of companies with an intention to cheat banks. Srinivas became friends with bank agents Mallikarjuna Rao and Nagi Reddy in 2017, and recruited them to the conspiracy by offering a commission of 25 to 30 per cent of the loan amount.

“He submitted fake documents and obtained huge personal loans in March 2017 and defaulted payments. The men kept shifting their residence address and changed their phone numbers,” Ms Sumathi said.

Acting on a tip-off, the North Zone team laid a trap and apprehended the trio on Thursday and they were handed over to Panjagutta police for investigation. Taking lessons from videos on chain snatching from YouTube, two offenders committed a chain-snatching offence at KPHB. Four days after the incident, police with the help of CCTV footage and other evidence, nabbed the two and recovered the property.

The suspects identified as K. Sambashiva Rao, 42, and V. Tirupathi Rao, 27, both already accused in murder and property offences, snatched a 6.2 tola gold chain from a 58year-old woman on Monday at KPHB.

Madhapur DCP A. Venkateswar Rao said that only three digits of the number plate — 129 — and the make of the vehicle — Honda Unicorn 150cc model — were discernible in the footage. Inquiries revealed there were 68 bikes having 129 as the number and 18 of the same model with 129 as the last three digits.

“Finally one person’s bike matched and on inquiring he admitted that he had lent his bike to his friend for some personal work. Based on the details, the suspects were nabbed and the gold chain found intact in their possession,” said Mr Rao.

Tirupathi Rao is involved in seven cases, including two murder cases. He also has a suspect sheet against him at Tenali in Guntur. Sambashiva Rao is an accused in a murder at Shadnagar, where he allegedly robbed and killed a trucker and sold the iron cargo.

They were produced before the court and sent to remand on Thursday.