Car rental scam busted; six held in Hyderabad
Police recovered 50 cars together worth Rs 4.3 crore from the accused
Hyderabad: The Ramachandrapuram police on Monday nabbed a six-member gang on charges of borrowing cars on a rental basis and selling them off at half the actual price. Police recovered 50 cars together worth Rs 4.3 crore from them.
The arrested were identified as P Naresh Kumar, a travels businessman from RC Puram, B Raju Naik, an agriculturist from Ranga Reddy, K Vikas, a travel agent from KPHB Colony, G Bharath Joshi, a businessman from Warangal, B Election Reddy, a cable TV operator from Old Bowenpally and T Narasimha Goud, a trader from Ranga Reddy.
Naresh Kumar, who worked as a Maintenance Manager in Chevella for a private firm, observed that many cars were being engaged on a rental basis. With the objective of owning a big travel agency, he rented many cars from different travel agencies and sold them to others at half the original price. Officials said he took about 272 cars from different travel agencies and sold them.
Naresh Yadav rented cars, paid the rent for the first three months and then either sold or mortgaged the cars, telling the buyers that he got them from government agencies, the bank seized vehicles due to non-repayment of loans and auctioned vehicles, Cyberabad Police Commissioner VC Sajjanar said, adding that eventually, the gang came together and approached different car travel agencies in Hyderabad and some individuals and rented 272 cars, agreeing to pay the rent monthly.
“Of the 272 cars, 205 cars were forcefully taken back by original owners. Of the remaining 67 cars, one car was recovered by Tappachabutra Police and 50 cars were recovered by RC Puram Police. Thirteen cars are yet to be recovered,” Sajjanar said.
Police cautioned the public to check vehicle documents carefully. “If someone calls it a Government Scheme vehicle, find out which scheme and personally contact the department concerned and verify. If any vehicle is being offered at half the original price, think twice,” officials said, adding that such incidents could be informed to the police on Dial 100 or the Cyberabad Police WhatsApp number 9490617444.
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