CBI today arrested a gold merchant of Hyderabad for cheating the SBI to the tune of 70 kg of gold.
Mr Sanjay Kumar Agarwal, owner of the Ghansyam Das Gems and Jewelers at Abids, took 70 kg of gold as loan from the SBI four months ago showing fake guarantee papers of the Punjab National bank.
On a routine check up, the SBI officials doubted the authenticity of the bank guarantee papers and sent them for confirmation. After examining the papers, the Punjab National Bank informed the SBI that the guarantee papers were fake.
Based on a complaint from the SBI, the CBI officials arrested Mr Agarwal and produced him at the CBI court at Nampally this evening. The court remanded him to judicial custody till Feb 16. The CBI officials took him to the Osmania General Hospital for medical examination and then shifted him to the Chanchalguda jail. (JUBS)
