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Advocate held for trying to cheat police & bank

Hyderabad, Feb.8 (PMI): Syed Safiullah Hussaini, 27, an advocate, was arrested by the sleuths of ATM team of CCS-DD on Thursday morning along with his own vehicle Tayota Reg.No. AP03 AZ 0001 at Budhera crossroads under Munipally mandal of Sanga Reddy District.
The sleuths said the accused, after changing the colour of the vehicle from white to black and changing its registration number to AP03AT 0567, lodged a false complaint with the Abids police station stating that his vehicle was stolen by unidentified persons on April 30, 2018 at 1630 hours when it was parked beside Bajaj Electronics Show Room at Abids with an intention to evade payment of EMI to Clix Finance India Unlimited (formerly GE Capital Services India) and to claim insurance. The police seized the vehicle from his possession and registered a case Crime No. 162/2018 under SectioPMI 379, 420, 182 IPC.
Police said the accused-cum-complainant had purchased a second hand Toyota Fortuner bearing No. AP03AZ 0001 from Ghulam Ali of K.B. Motors, Babanagar, Chandrayangutta on October 18, 2016 for Rs 17.5 lakh. Later, he approached Axis Bank, Ranigunj Branch, Secunderabad and took vehicle loan of Rs 10.24 lakh on February 19, 2017. The accused paid EMI installments regularly for one year.
Later with an intention to cheat the bank, the accused approached the Clix Finance India Unlimited (formerly GE Capital Services India), Banjara Hills and obtained top-up vehicle loan of Rs 12.67 lakh on February 28, 2018. The Clix Finance transferred Rs 9,24,170 to the Axis Bank and cleared the loan and the remaining amount of Rs 3,42,830 were deposited in the account of the accused.
The accused paid one EMI to Clix Finance India Unlimited and later with an intention to cheat the Clix Finance, the accused got the colour of the vehicle changed from white to black at Lower Tank Bund and also changed the Registration to No AP03AT 0567. The accused took the vehicle to his native place Budhera village under Munipally mandal of Sanga Reddy District and kept it in a shed. Police said the motive of the accused was first to get the case closed and later to claim insurance amount to clear the loan amount of Clix Finance India Unlimited. Later his plan was to use this vehicle, the sleuths said. (PMI)

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