HYDERABAD: Hyderabad CCS police have busted a four-member interstate gang for forging bank guarantees in the name of IndusInd Bank and swindling several companies of about Rs 45 crore.
According to the police, the main accused are Nilotpal Das and Subrajit Ghosal from Kolkata, West Bengal. They were assisted by Naresh Sharma from Jaipur, Rajasthan and Nagaraju from Warangal. The police said: “Nagaraju knew victims Prajwel and Sandeep Reddy of Harshitha Infra Engineering Private Limited. Nagaraju told them that he could fix bank guarantees on a commission basis to which the duo agreed.”
Nagaraju told them that he would fix bank guarantees for them as they got bio-mining work orders from Telangana state government.
He contacted Sharma who in turn got in touch with Nilotpal and Subarjit who supplied fabricated bank guarantee documents by charging 14 per cent commission on the bank guarantee amount.
The duo created 12 fake bank guarantee documents for a total worth of Rs 3.25 crore, using fabricated letters in the name of IndusInd Bank, Park Street Branch, Kolkata, West Bengal and collected Rs 47 lakh as commission for this work.