Hyderabad: Two held for cheating in private company

The suspects identified as MNS Bhushan Reddy, the operations manager and D Srinivas, an accountant of Neon Metal Crafts have allegedly contrary to the provisions of that company, established another company named Adinath Industries.

Hyderabad: The Nacharam police arrested two persons working in a private company in Mallapur for allegedly cheating the company and misusing funds worth Rs 2.1 crore.

The suspects identified as MNS Bhushan Reddy, the operations manager and D Srinivas, an accountant of Neon Metal Crafts have allegedly contrary to the provisions of that company, established another company named Adinath Industries.

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According to the police, the duo prepared fake sales invoices and work orders in the name of the company they were working for and illegally transferred about Rs 35 lakhs online from Neon Metal Crafts company bank account to Adinath Industries bank account. They have misused about Rs 2.1 crore in the name of work orders.

Based on the complaint filed by the owner of the company, the Nacharam police registered a case, investigated, and arrested the suspects.