Hyderabad: Businessman duped of Rs.25 lakh in Punjagutta

Hyderabad: A businessman was allegedly duped of Rs.25 lakh in Punjagutta. The suspect, who posed as a bank official, had promised to settle a pending loan amount, police said. The complainant, V Ravi Kumar from KPHB who was running a firm at Punjagutta, along with his brother V Raghavender and other partners had borrowed a […]

Hyderabad: A businessman was allegedly duped of Rs.25 lakh in Punjagutta. The suspect, who posed as a bank official, had promised to settle a pending loan amount, police said.

The complainant, V Ravi Kumar from KPHB who was running a firm at Punjagutta, along with his brother V Raghavender and other partners had borrowed a bank credit of nearly Rs.81 crore from a private bank.

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Police said that as they failed to repay the loan amount due to losses in business and the pandemic, after a series of discussion between the company and the bank authorities, the latter had agreed for a one-time settlement of the debt. Ravi Kumar paid Rs.7 crore as first installment to the bank.

However, the suspect P Vikram approached Ravi Kumar and Raghavender claiming to be a bank consultant and liaison officer and assured to settle the loan for Rs.47 crore, after discussion with the bank authorities. He demanded Rs.25 lakh as his charge.

Believing him, the complainant gave the money. However, even after several months, when there was no development in the matter, Ravi Kumar went to the bank and found that he was cheated. When he contacted Vikram, the latter refused to return the money and started threatening him.

The Punjagutta police are investigating.

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