CHENNAI: A 52-year-old man, R Ramesh, against whom a non-bailable warrant (NBW) was issued 12 years ago, was arrested on Thursday by the Central Crime Branch (CCB). Ramesh is one of the accused in a case pertaining to a private mill’s failure to pay back a loan taken from a finance company.
According to CCB, in 1997, Uma Maheswari Mill Limited of Hosur availed a Consumer Durable Loan from a private finance company, in the name of its 289 employees. Ramesh had been one of the directors of the mill, which failed to repay the loan, leading to a loss of Rs 98.47 lakh to the finance company.
“Based on a complaint, a case was filed and investigation began. Subsequently, a chargesheet was filed against seven people, including the company’s directors and general managers. Some of their family members were also named,” a police officer said.
However, from 2011, all seven accused stopped appearing before the court. Henceforth, an NBW was issued against all of them. As many as 12 years later, on Thursday, one of the accused, Ramesh, was arrested in T Nagar, Chennai.
“A search is underway to locate the others. As per information we received, one of the accused has passed away. We are following up on all the leads,” the officer added.