Hyderabad: Karver Stock Broking Ltd.
Chairperson of C Parthasarathy was arrested by Detective Department of Hyderabad Police Detective for allegedly default loans taken from Indusind Bank on Thursday.
Commissioner with Police (CCS) Avinash Mohanty told TII that Parthasarathy and another accused of this allegedly promised their client’s shares to take loans.
“Then the defendant transferred the money to another bank account and then failed to pay a loan,” Mohanty said.
Parthasarathy was detained from his residence on Thursday morning and was taken to the CCS office.
Then, he was declared captured.
The three different banks previously submitted complaints to Hyderabad police, against Parthasarathy and several others related to the Karvy Stock Broking Ltd, accused them by default hundreds of crores loans.
Until now, CCS officials only arrested Parthasarathy on the complaints provided by Indusind Bank.