Bengaluru police arrest inter-state car thieves gang, seizes 48 high-end cars
Bengaluru, Feb 1: The Bengaluru police with the help of Andhra Pradesh transport department busted notorious inter-state car theft racket and arrested seven-members of this gang and seized 48 high-end cars valued at about Rs 4 crore from them, Deputy Commissioner of police (East Division) S. D. Sharanappa said here on Monday.
The notorious gang comprises of 10 members and three of them are still on the run.
According to the police , except for J. Riyaz all other accused hailed from Hindupur, Anantapur District of Andhra Pradesh.
The police said in its statement that the arrested have been identified as J. Riyaz (Bengaluru), Sheik Mukatayar, Y. vinod, Ramesh Naidu, Narasimha Reddy, T. Prabhakar and Dhakli Naresh.
The other three associates of the gang — Inayat, Salim, Suhel and Jabi — are still at large, the statement further stated.
The DCP told reporters that the modus operandi of this gang was to identify a car owner who failed to repay their EMIs on time.
“Their primary target used to be those who could not afford to pay their EMIs in time and pay them the initial amount towards advance payment. The accused used to procure original documents of the vehicle after assuring the original vehicle owners that they would continue to repay ‘their’ installments on time,” the DCP explained.
After obtaining original papers, the gang used to get this vehicles registered in Andhra Pradesh as a new car at Hindupur Regional Transport Officer’s (RTO) office through Sheikh Muktayar and his associates including Vinod, Ramesh Naidu, T. Prabhakar, Chakli Naresh and others who were working as clerks and agents.
However, this first comes to the notice of Anantapur Deputy Transport Commissioner N. Sivaram Prasad, after getting complaints about registration of Karnataka vehicles without NOC in AP39 RTO, he initiates internal inquiry and finds several anomalies by his own subordinates.
“Based on his preliminary inquiry and investigations, he suspends erring RTOs and has files complaint in this regard with the local police too. The case then gets referred to Bengaluru East division and investigations lead to 52 luxurious cars like Toyota Innovas being stolen by this gang and sold in Andhra Pradesh, Of these 52 cars, we have seized 48 vehicles from this gang,” the police officer explained.
The police has registered a case and is investigating, while elated over the seizure the Bengaluru police commissioner Kamal Pant has also announced the cash prize in appreciation to K. G. Halli police for cracking the case.
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Insolvency law main factor in improving health of country's banking sector: FM in Lok Sabha
New Delhi (PTI): Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday said in the Lok Sabha that the Insolvency and Bankruptcy Code (IBC) has been a main and very crucial factor in improving the health of the country's banking sector, including recovery of non-performing assets.
Piloting a bill for further amending the IBC in the Lok Sabha, the minister stressed that companies have been doing well and their corporate governance practices have also improved after coming out of the insolvency resolution process.
She made the remarks while replying to the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, as reported by the Select Committee.
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The Bill has proposed 12 amendments to the IBC, which came into force in 2016.
The IBC has been a main and very crucial factor in improving the health of the country's banking sector, Sitharaman said, adding that more than half of the NPAs (Non-Performing Assets) have been recovered by the banks through the resolution process.
On August 12, 2025, the government introduced the Bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code (IBC), proposing a raft of changes, including provisions to reduce the time taken for admission of insolvency resolution applications.
The Bill was referred to a select committee of the Lok Sabha, which submitted its report in December 2025.
IBC has been amended seven times so far.
