Vizianagaram: Two persons were arrested on 26 October after they filed a fake police complaint regarding the theft of raw cashew to claim insurance money.
The Vizianagaram police chief, B. Raja Kumari, said on 24 October G. Manoj Kumar, the business manager of Delhi-based Kissandhan Agri Financial Services Pvt. Ltd., filed a complaint with Denkada police station claiming that 350 bags of raw cashew worth Rs. 24 lakh was stolen from their warehouse located at Modavalasa.
According to the police, Vizianagaram-based V-One firm that engaged in raw cashew trade had stored raw cashew in a warehouse that belonged to Kissandhan Agri Financial Services Pvt. Ltd. The Denkada police investigated the theft and found that on 22 October raw cashew was stolen from the warehouse, loaded into a lorry, and shifted to another location. Manoj and D. Vasudev Girish, an employee of V-One, was arrested for filing a fake complaint to claim the insurance money worth Rs. 60 lakh from SBI. The police have launched a manhunt for two more persons, N. Viswanatham and Ch. Venkata Rao of V-One, in connection with the case.
The police found that V-One had availed a loan of Rs. 1.6 crore from Kissandhan Agri Financial Services Pvt. Ltd. by depositing raw cashew in their warehouse which was insured with SBI. However, V-One managed to repay only around Rs. 1.2 crore as the cashew business was hit by the COVID-19 lockown.
As Kissandhan Agri Financial Services Pvt. Ltd. was insisting V-One pay the remaining payment, the four hatched a plan and stole the stored cashew nut from the warehouse to claim the insurance. However, their plan proved futile as the police seized the stolen cashew and nabbed the key accused persons.