Talwar Cars owner held again for cheating bank of Rs 1 crore

The Hyderabad Central Crime Station police arrested Saket Talwar, owner of Talwar Cars Pvt Ltd, on charges of cheating a nationalized bank of Rs.1 crore, police said on Wednesday.

Earlier, a complaint was lodged by the bank management alleging that Saket Talwar along with P Srinivas Gautham and P Sailaja, both directors of Shresht Industries Private Limited, approached the bank to avail a vehicle loan of Rs.1 crore. The loan was sanctioned and the money was credited to the account of Talwar Cars represented by



Saket Talwar in 2017.

Later, Talwar along with the others allegedly diverted the amount and cheated the bank. The loan taken as a car loan was diverted for other purposes. They also submitted forged documents to cheat the bank.

Based on a complaint, the CCS police booked a case and arrested Talwar from Goa on Tuesday. He was produced before court in Goa and brought to Hyderabad on transit warrant. He was involved in similar cases earlier and was arrested last year too in a cheating case, police said.