The Central Crime Station on Wednesday arrested a 37-year-old man for allegedly mortgaging a land parcel and furnishing fake documents to the PNB Bank.
Police identified the accused as Gunti Suman, who is the Director of Eigerbuck Pvt Ltd, and a resident of Shankarpally.
Police said that one Raheemuddin was the pattadar of a 10,540 sq yd land parcel in Lingojiguda in Saroornagar mandal. Raheemuddin sold the land to Nimmagadda Raja Giridhar Kumar and three others in 2005. He, however, allegedly did not disclose that he had transferred the property by means of a hibanama (gift deed) to his daughter, who allegedly made changes in the survey number of the land parcel. She then sold it to Y Venkata Siva Reddy and three others. Suman, along with Reddy, then allegedly mortgaged the property to PNB Bank in Nanalnagar and obtained a loan of ₹ 5.90 crore in the name of the company. Police said that the accused allegedly intended to default on the loan payments, thus causing it to be classified as an NPA, causing a loss to the bank. Suman is being sent for judicial remand and further investigation is on.
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