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HYDERABAD: After IndusInd Bank lodged a complaint with the Hyderabad police against unknown persons who were preparing fake guarantees in the name of the bank, Hyderabad Central Crime Station (CCS) officials on Saturday arrested four persons, including two from Kolkata.
A team of CCS investigators arrested Godishala Nagaraju, a loan agent from Warangal and Naresh Sharma, a resident of Rajasthan, from Uppal and another team nabbed Nilotpal Das and Subhrajit Ghosal from Kolkata.
Harshitha Infra Engineering Private Limited was awarded a bio-mining contract by Karimnagar Smart City Corporation Limited, for which it was asked to provide a bank guarantee of 1 crore. Subsequently, Harshitha Infra was awarded 11 more bio-mining contracts by the director of municipal administration, for which the company had to provide bank guarantees of 2.25 crore.
The victims, Prajwel and Sandeep Reddy of Harshitha Infra, approached Nagaraju to provide bank guarantees for their company. Nagaraju, who was acquainted with the victims, told them that he could provide bank guarantees on a commission basis.
“Nagaraju got in touch with Naresh Sharma of Jaipur, Rajasthan, who in turn got in touch with Nilotpal Das and Subrajit Ghosal, who were the masterminds behind the fake bank guarantee racket operating from Kolkata. Nilotpal Das used to approach customers through his friend Naresh Sharma and supply fake bank guarantee documents, charging a 14% commission on the guarantee amount. Each person in this network received a share of the commission,” the CCS police said.
Nilotpal Das and Subrajit Ghosal issued 12 fake bank guarantee documents for an amount of 3.25 crore in the name of IndusInd Bank, Park Street Branch, Kolkata, West Bengal, and collected 47 lakh as commission from the victims. The company submitted these documents to Karimnagar Smart City Corporation Ltd and the director of municipal administration.
“The main accused had created a fake website of IndusInd Bank. When the state government officials cross-checked by sending an email to the website mentioned on the bank guarantee documents, the accused responded by sending a fake email back confirming the authenticity of the documents. But when the hard copies of the documents were sent to the specified address of the bank for verification, the IndusInd Bank authorities identified them as fake and reported the matter to us,” police said.
The accused prepared around 60 fake bank guarantees worth 45 crore in the name of IndusInd Bank, Bank of India and Punjab National Bank.
A team of CCS investigators arrested Godishala Nagaraju, a loan agent from Warangal and Naresh Sharma, a resident of Rajasthan, from Uppal and another team nabbed Nilotpal Das and Subhrajit Ghosal from Kolkata.
Harshitha Infra Engineering Private Limited was awarded a bio-mining contract by Karimnagar Smart City Corporation Limited, for which it was asked to provide a bank guarantee of 1 crore. Subsequently, Harshitha Infra was awarded 11 more bio-mining contracts by the director of municipal administration, for which the company had to provide bank guarantees of 2.25 crore.
The victims, Prajwel and Sandeep Reddy of Harshitha Infra, approached Nagaraju to provide bank guarantees for their company. Nagaraju, who was acquainted with the victims, told them that he could provide bank guarantees on a commission basis.
“Nagaraju got in touch with Naresh Sharma of Jaipur, Rajasthan, who in turn got in touch with Nilotpal Das and Subrajit Ghosal, who were the masterminds behind the fake bank guarantee racket operating from Kolkata. Nilotpal Das used to approach customers through his friend Naresh Sharma and supply fake bank guarantee documents, charging a 14% commission on the guarantee amount. Each person in this network received a share of the commission,” the CCS police said.
Nilotpal Das and Subrajit Ghosal issued 12 fake bank guarantee documents for an amount of 3.25 crore in the name of IndusInd Bank, Park Street Branch, Kolkata, West Bengal, and collected 47 lakh as commission from the victims. The company submitted these documents to Karimnagar Smart City Corporation Ltd and the director of municipal administration.
“The main accused had created a fake website of IndusInd Bank. When the state government officials cross-checked by sending an email to the website mentioned on the bank guarantee documents, the accused responded by sending a fake email back confirming the authenticity of the documents. But when the hard copies of the documents were sent to the specified address of the bank for verification, the IndusInd Bank authorities identified them as fake and reported the matter to us,” police said.
The accused prepared around 60 fake bank guarantees worth 45 crore in the name of IndusInd Bank, Bank of India and Punjab National Bank.
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