Daijiworld News Network - Udupi (GA)

Udupi, Jun 22: Naveen D'Souza, a resident of Belman near here has been arrested along with one more person for cheating Rs 15 lac to Shri Ram Investment Ltd here on Wednesday June 21.

Naseer Hussein of Atrady is the other arrested.  He is the owner of AKMS Travels buses.  Naveen had borrowed Rs 14.84 lac from the said finance along with Naseer Hussein to buy chassis of bus.  However, Naveen did not pay back the loan amount to the finance firm.

When the firm enquired, it was revealed that Naveen had only bought the chassis and not done body building of buses.  It was also known that one of the chassis was sold to AKMS Travels owner Naseer for which separate body was built.  The other chassis too was sold to someone else.

Having come to know about the cheating done by the duo, Shri Ram Investment manager lodged a complaint with the town police who on Wednesday arrested the duo.

Both were produced before the court.  While Naveen was released on bail, Naseer has been remanded to judicial custody.