Hyderabad: Car Rental Agency Owner Held for Cheating Vehicle Owners

Hyderabad: Chandrayangutta police of Southeast Zone, Hyderabad city, arrested Mohammad Aslam Nawaz, who runs car rentals and seized seven cars worth around Rs 1.20 Cr, which he had rented from the vehicle owners and mortgaged them.

The accused did not inform the vehicle owners about mortgaging their vehicles and used the amounts for his personal use. When they asked him for their vehicles, he avoided them, said DCP South East Zone, Ch Rupesh.

According to the police, in 2021, Nawaz started a car rental business at Sanath Nagar. He used to enter into car lease agreements with the car owners and used the cars for his business. He made an agreement with 8 car owners and took their cars on rental basis for a few months only under the guise of a business.

However, he mortgaged the vehicles to private individuals and took hand loans from them. On Tuesday, he was caught while moving in one such rental car and further on his confession, recovered six other cars.

Police found that he had initially operated with around 60 cars, but gradually the number came down with the owners losing trust in him. Nawaz spent most of his earnings on frequent travels to Mumbai and Goa, police found. He was remanded to judicial custody.