Hyderabad: A person was arrested by the city police on charges of submitting fraudulent documents and failing to repay the loan amount to Canara Bank, Balanagar branch causing a loss of Rs 1.30 crores.
According to a police statement, prime accused Mohammed Faiz Ahmed along with his associates Mohammed Chand Pasha and G Srinivasa Babu, a former manager of the Canara Bank, who is under custody, availed a capital loan of Rs 1.30 crore from Canara Bank.
According to the documents submitted under the name ‘Augmentation of water supply to Khammam Municipality under Mission Bhagiratha’, the accused assured the…