Kolkata, Police have arrested five persons in Purba Jadavpur area here for their alleged involvement in cheating people by promising loans under the Pradhan Mantri MUDRA Yojana , a senior police officer said on Saturday.
The five accused, hailing from states like Karnataka and Bihar, were arrested during a raid at a building in Purba Jadavpur area, he said.
"The accused were apprehended from a residential complex. The arrested persons have been identified as Amit Khan, Rathin CD, Mohammad Nazimuddin Siddiqui, Vishal Sindhe, and Madhusudan HR. Among them, Rathin, Nazimuddin, Vishal, and Madhusudan are residents of Karnataka, while Amit Khan hails from Bihar. All five were staying in the Purba Jadavpur area," the officer said.
Police recovered eight smartphones and six keypad mobile phones from the possession of the accused. They are scheduled to be produced before a local court on Saturday.
Investigators said the accused allegedly targeted small business owners, cheating them by falsely promising loans under the Pradhan Mantri Mudra Yojana scheme.
The case dates back to January 7, when a complaint was lodged at Purba Jadavpur Police station regarding a loan fraud racket, he said.
During the course of the investigation, police arrested a few suspects and, based on their interrogation, traced the remaining accused. Acting on the leads, a raid was conducted, leading to the arrest of the five from a third-floor room of a residential building in Nitainagar.
Police have registered the case under various sections of the Information Technology Act and the Bharatiya Nyaya Sanhita , he said, adding that further investigation is underway to identify other persons linked to the racket and to ascertain the full extent of the fraud.
Pradhan Mantri MUDRA Yojana scheme provides loans up to 20 lakh for those entrepreneurs who have availed and successfully repaid previous loans under the 'Tarun' category to the non-corporate, non-farm small/micro enterprises.
This article was generated from an automated news agency feed without modifications to text.
Curated by Dr. Elena Rodriguez
