HYDERABAD: The economic offences wing (EOW) of Cyberabad police has registered a case of cheating and criminal intimidation against the directors of an education consultancy accused of defrauding a city-based non-banking financial company (NBFC) of over Rs 2.5 crore.
According to a complaint filed by Keerthi Kumar Jain (44), director of the NBFC, the company disbursed a loan of Rs 1.5 crore on Feb 28, 2024, to an Erragadda-based education consultancy, represented by its directors B Kishore Kumar and B Shravan Kumar Beengi. The loan was sanctioned based on invoice receivables and employee details submitted by the accused.
However, a subsequent internal audit revealed that the invoice was fabricated and the employee records were forged. When the NBFC confronted the consultancy and suspended further disbursals, the accused allegedly severed all communication and even issued threats of 'grave consequences' to complainant.
"To date, not a single instalment has been repaid. The borrowers are deliberately evading contact, indicating clear intent to cheat from the beginning," Jain said in his complaint.
As of March 29, 2025, the outstanding dues, including principal, interest, and charges, amounted to Rs 2.25 crore. Despite repeated visits, calls, emails, and legal notices, there has been no response from the borrowers, prompting the NBFC to approach the police.
Based on the complaint, Cyberabad EOW registered a case on June 17 against Kishore and Shravan under sections 318(4) (cheating), 316(2) (criminal breach of trust), read with 3(5) (common intention) of the Bharatiya Nyaya Sanhita.
Police have initiated an investigation and are currently verifying loan documents and financial transaction details between both parties.
According to a complaint filed by Keerthi Kumar Jain (44), director of the NBFC, the company disbursed a loan of Rs 1.5 crore on Feb 28, 2024, to an Erragadda-based education consultancy, represented by its directors B Kishore Kumar and B Shravan Kumar Beengi. The loan was sanctioned based on invoice receivables and employee details submitted by the accused.
However, a subsequent internal audit revealed that the invoice was fabricated and the employee records were forged. When the NBFC confronted the consultancy and suspended further disbursals, the accused allegedly severed all communication and even issued threats of 'grave consequences' to complainant.
"To date, not a single instalment has been repaid. The borrowers are deliberately evading contact, indicating clear intent to cheat from the beginning," Jain said in his complaint.
As of March 29, 2025, the outstanding dues, including principal, interest, and charges, amounted to Rs 2.25 crore. Despite repeated visits, calls, emails, and legal notices, there has been no response from the borrowers, prompting the NBFC to approach the police.
Based on the complaint, Cyberabad EOW registered a case on June 17 against Kishore and Shravan under sections 318(4) (cheating), 316(2) (criminal breach of trust), read with 3(5) (common intention) of the Bharatiya Nyaya Sanhita.
Police have initiated an investigation and are currently verifying loan documents and financial transaction details between both parties.
You may also like
In absence of SHRC, Farooq Abdullah establishes separate human rights body in J&K
Donald Trump thanks Iran for giving early notice of 'very weak' retaliation, says it's times for peace
Emma Raducanu 'comfortable and safe' after stalker blocked from buying Wimbledon tickets
Mughal Road gets tunnel, Omar Abdullah says 'major achievement of my govt'
The London Underground station in a little UK town nowhere near London - 25 miles away
