Kalanikethan MD, Wife Arrested On Fraud Charges

The Hyderabad City Central Crime Station (CCS) police arrested Kalanikethan managing director Leela Kumar and his wife, and registered a cheating case against them, responding to a complaint from a financier.

According to the police, Kumar took Rs 3.7 crores as a loan from a financier A V N Reddy of Jubilee Hills a few months back. Kumar failed to return the amount, and did not even pay interest to the financier. Reddy finally lodged a complaint with the CCS some 10 days back.

The police arrested Kumar on Saturday afternoon after registering an FIR in a cheating case. CCS Additional DCP Vijayender Reddy said that Kumar was facing allegations that he did not repay loan amounts taken from multiple private lenders. There were also allegations that he had deceived several banks to the tune of Rs 100 crores.