HYDERABAD: Three individuals, together with a Master of Business Management (MBA) publish graduate, were nabbed by Task Force sleuths for dishonest 100 individuals to the song of Rs 3 crore at the pretext of offering mortgage loans by running a administrative center in Chennai.
Hyderabad police commissioner Anjani Kumar stated that 63-year-old Sateeshan Palayad, a local of Kerala, management supervisor of Universal Axis India Ram Nivas and valuator in Universal Axis India Hari Nivas, who's MBA publish graduate, were arrested and police seized Rs 45 lakh from them. Sateeshan, who did MA (Economics and Political Science), started Universal Axis India in Chennai.
Sateeshan usually opened places of work by taking premises on apartment basis and embellished it to seem like a corporate administrative center. "He advertises it through social media that he will provide loans by mortgaging the property at lower rate of interest less than bank interest and also provide MBBS seats on commission basis," Kumar stated.
The accused would acquire cash from sufferers citing 1% processing charge, 0.5% stamp accountability, 2% fee and one month EMI prematurely, together with valuation charges and other bills depending at the requirement of mortgage amount for the sufferer. Previously, Sateeshan was once arrested by Narayanguda police in 4 other instances for dishonest the sufferer. After being released from jail, Sateeshan in 2017 got here in contact with other two accused.
In November 2017, all of the 3 started Universal Axis India in Ramakrishna Nagar, Chennai. They had been accumulating the details of prospective sufferers via quite a lot of resources, together with social media, by assuring them of offering loans.
Hari Nivas used to satisfy the customers by introducing himself as a valuator of his administrative center and picked up Xerox copies of land paperwork and other details of consumers and Ram Nivas claimed to be a record author. The accused individuals confident the customers that once of entirety of all formalities the mortgage amount can be given inside 15 to 20 operating days. After accumulating cash citing quite a lot of reasons like process charge, stamp accountability and other commissions, the accused would prevent taking the telephone calls from the sufferers. As of now, there are nine pending instances in Telangana, Andhra Pradesh, Tamil Nadu.
Hyderabad police commissioner Anjani Kumar stated that 63-year-old Sateeshan Palayad, a local of Kerala, management supervisor of Universal Axis India Ram Nivas and valuator in Universal Axis India Hari Nivas, who's MBA publish graduate, were arrested and police seized Rs 45 lakh from them. Sateeshan, who did MA (Economics and Political Science), started Universal Axis India in Chennai.
Sateeshan usually opened places of work by taking premises on apartment basis and embellished it to seem like a corporate administrative center. "He advertises it through social media that he will provide loans by mortgaging the property at lower rate of interest less than bank interest and also provide MBBS seats on commission basis," Kumar stated.
The accused would acquire cash from sufferers citing 1% processing charge, 0.5% stamp accountability, 2% fee and one month EMI prematurely, together with valuation charges and other bills depending at the requirement of mortgage amount for the sufferer. Previously, Sateeshan was once arrested by Narayanguda police in 4 other instances for dishonest the sufferer. After being released from jail, Sateeshan in 2017 got here in contact with other two accused.
In November 2017, all of the 3 started Universal Axis India in Ramakrishna Nagar, Chennai. They had been accumulating the details of prospective sufferers via quite a lot of resources, together with social media, by assuring them of offering loans.
Hari Nivas used to satisfy the customers by introducing himself as a valuator of his administrative center and picked up Xerox copies of land paperwork and other details of consumers and Ram Nivas claimed to be a record author. The accused individuals confident the customers that once of entirety of all formalities the mortgage amount can be given inside 15 to 20 operating days. After accumulating cash citing quite a lot of reasons like process charge, stamp accountability and other commissions, the accused would prevent taking the telephone calls from the sufferers. As of now, there are nine pending instances in Telangana, Andhra Pradesh, Tamil Nadu.
3 held for cheating people in Hyd, Tamil Nadu
![3 held for cheating people in Hyd, Tamil Nadu]()
Reviewed by Kailash
on
July 06, 2018
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