Top cop booked in connection with non-repayment of bank loan

21 Jul, 2014 11:30 IST|Sakshi
Top cop booked in connection with non-repayment of bank loan

The West Godavari police registered a case of cheating today against Vijayawada Railway Superintendent of police Shamprasad in connection with the non-repayment of a Rs 25-lakh loan to a bank, which he had facilitated. 

According to the police, Shamprasad, stood as a middle man between the bank and the managing director of Vani Coir Industries in Gannavaram of Krishna District of Andhra Pradesh in 2011, who availed the loan. The then trainee sub-inspector of police C Rambabu and his wife Prasanna Kumar stood as guarantors for a Rs 25-lakh loan availed by Vani. 

After availing the loan, Vani did not respond to bank notices and failed to repay the loan. From 2012 onwards, several notices were served to Rambabu and Prasanna Kumar, which was informed to Shamprasad. However, Vani failed to respond to notices, the police said. Unable to bear the pressure from bank officials, the couple lodged a police complaint, the police said.

On the basis of the complaint lodged by the couple, we registered cases under Sections 420 (Cheating), 506 (cognisable and non-bailable) read with Section 34 of the Indian Penal Code against Shamprasad. We are investigating the case, the police said. 





Read More:
More News