HYDERABAD: Managing director of city-based Meena Jewellers Private Limited, Umesh Purushotham Jethwani, who allegedly duped Subhanjali Chits Funds Pvt Ltd by taking a chit amount of Rs 6 crore and defaulting on payment, was arrested by Central Crime Station police on Friday.
According to police, Jethwani joined seven chit groups for Rs 6 crore during 2014-15 and was successful in bids. He received the cit amounts to the tune of Rs 6 crore by inducing chit fund company owner T Hanumantha Rao but defaulted on payments. He executed the chit agreement, said Avinash Mohanty, deputy commissioner of police (CCS). Police arrested Jethwani and produced him in court.