Hyderabad: Phone tapping accused Shravan Rao arrested in ₹6.58 Cr cheating case
He claimed to have taken over Akaur Company in Sandur, Karnataka, which was procuring iron ore from Akhand Infratech.
By Newsmeter Network
Hyderabad: Hyderabad Central Crime Station (CCS) police have arrested phone-tapping accused Shravan Rao in a ₹6.58 crore cheating case.
According to CCS Police, Rao approached Akarsh Krishna, Director of Akhand Infratech India Private Limited Company in Hyderabad, in 2022. He claimed to have taken over Akaur Company in Sandur, Karnataka, which was procuring iron ore from Akhand Infratech.
Rao told Krishna that all future payments for iron ore should be routed through his company, promising a commission of ₹300 per tonne along with a share of the profits.
Trusting Rao’s, Akhand Infratech transferred more than ₹6.58 crore to his company for the supply of iron ore. However, company director Akarsh Krishna later filed a complaint with the CCS police on April 25, alleging that Rao had defrauded the company by failing to deliver on the agreement and misappropriating the funds.
Following the complaint, the CCS registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) against Shravan Rao, his wife Swathi Rao, and associates Uma Maheshwar Reddy and Vedamurthy, both of whom were reportedly working in Rao’s company.
In the latest development, the prime accused, A. Sravan Kumar, was produced before the Additional Chief Judicial Magistrate at Nampally on Tuesday. After hearing arguments from both sides, the magistrate ordered a 14-day judicial remand.
