Hyderabad: Former IAS officer Kare Sai Bhasker’s son Kare Vijay Suryateja and his associate were booked by Jubilee Hills police for cheating a bank of Rs 70 lakh on the pretext of a car loan.
Suryateja was earlier arrested by different police stations in the city. He was also detained under the PD Act in 2015 and came out in 2016.
The chief GM of the Indian Overseas Bank, Jubilee Hills Branch, lodged a complaint with the police stating that Suryateja and his partner Mohd Azhar Hussain and others had cheated the bank by taking a vehicle loan using forged documents and was not paying back loan instalments.
Suryateja approached the bank in February seeking a loan to purchase a Land Rover Discovery Sport Luxury car and after two days a loan of Rs 70.20 lakh was sanctioned against the actual price of around Rs 79 lakh. The amount was transferred to the dealer at Jubilee Hills through online transfer by the bank.
After purchasing the vehicle, he submitted copies of the temporary registration certificate, proforma invoice and insurance cover note. Even after the temporary registration expired in March, he did not submit the original registration of the vehicle.
Later, IOB officials found that Suryateja had not registered the vehicle and had not paid any installments of the car from the time of purchase.
The bank after failing to trace the vehicle issued notices to him through registered post, but it was returned as he was not present at the given address.
When IOB staff visited the address, they found him absconding.
They also found that the documents he had submitted for the loan were forged and had cheated the bank of Rs 72.2 lakh. Jubilee Hills police registered a case against Suryateja, his firm Surya Commercials and his associates.
“He was earlier involved in bank frauds and was an accused in eight cases in CCS, three in Saifabad, two each in Banjara Hills and Abids and one in Punjagutta police stations,” the police said.
