Two arrested for cheating Andhra Bank

Hyderabad: The Hyderabad Central Crime Station police on Tuesday arrested two persons on charges of cheating Andhra Bank by submitting forged property documents to obtain a loan of Rs 1.5 crore.

The arrested persons were identified as D Nagendra and Lakshma Reddy. According to the CCS police, the two had colluded and obtained the loan as working capital for a civil contract of DVR Project from Andhra Bank in Marredpally by submitting



forged land documents pertaining to a land at Ramdaspally in Ibrahimpatnam in 2015.

“After obtaining the loan, the borrower Nagendra defaulted in repayment. When bank officials verified the mortgaged property, they found the documents submitted by Reddy as collateral security were fake,” police said.

Based on a complaint from Andhra Bank officials, a case was booked and the two were arrested.