The Nalgonda Town I police on Saturday arrested two persons and booked them for allegedly taking a vehicle loan by producing the documents of an innocent person.
The accused were identified as Mekala Raghuram Reddy and Ramavath Jabbar Lal of Hayathnagar. The SUV worth ₹11 lakh, which had a temporary registration number, was seized.
According to the police, the issue surfaced only after one Yanala Madhusudan Reddy, a milk distributor of Motakondur village, approached them. A savings bank account was opened and a car loan taken, without his knowledge, at the State Bank of India’s Collectorate branch and Shivajinagar branch respectively.
The bank’s welcome letter of opening the account and other services that came to the original address exposed the case.
“Even the bank was unaware and said that the approvals were based on colour photocopies. While one opened the account, the other branch sanctioned the loan and the SUV delivery was also done. Negligence on the part of the bank officials was clear,” a senior officer said.
It was also revealed that Raghuram Reddy had a history of cases against him in Hyderabad, and along with Jabbar Lal, an outsourced loan agent, he had approached the victim, Madhusudan Reddy, and collected his ‘Know Your Customer’ details promising him a loan. However, the latter did not pursue his interest and also did not collect his documents back.
In addition to charges of forgery, cheating and impersonation against the two, Lal was booked for criminal breach of trust by the banker. The case is under investigation.
