Rs 100 cr cheating case: 8 persons including son of former MLA held
Accused misused room of BSY for their business?
Bengaluru, February 13: The Central Zone police arrested eight persons including a son of former MLA on charge of cheating people by duping them to believe that they will get Rs 100 crore for cashew nut business here. Interestingly, police sources said that the accused had misused the office of Opposition Leader BS Yeddyurappa on the first floor of the Vidhana Soudha for their business.
The arrested have been identified as P Karthikeyan (60), son of former MLA Palaniyappa from Shivajinagar constituency in 1950, Manikantha Vasan (25), Suman (27), Abhilash (27), Karthik, Prabhu, Johnmoon and Sagavaroop and all of them hailed from Tamil Nadu, said DCP D Devaraj.
About incident
A person called Ramesh approached a lady Ilamadi to get Rs 100 crore loan for his cashew nut business. Later, she along with Ramesh, Sundaram Selvam, Ajay and her father KK Shetty promised him of getting loan at minimum interest rate. They held discussion at the first floor of the Vidhana Soudha on January 2 and asked him to pay 1.12 per cent amount on loan amount as stamp charge. Later, they got five stamp papers of Rs 100 face value, and five stamp papers of Rs 20 face value from him and got his signature on them. After some time, they managed to get five cheques and six photos along with Rs 1.12 crore from him and escaped to Tamil Nadu. Against this, a case was filed at Cubbon Park police station, Devaraj said.
Now the police who arrested the accused recovered Rs 40 lakh from them and handed it over to Ramesh and remaining Rs 72 lakh has to be recovered from the accused, investigation officers said.
BSY office misused?
It is said that in order to cheat a person, the accused have misused the office of former chief minister and Opposition Leader BS Yeddyurappa on the first floor of the Vidhana Soudha. On the day of their dealing, P Karthikeyan and others who entered the Vidhana Soudha, sat in an empty room in ministers get up. Moreover, they also introduced themselves with the Vidhana Soudha staff, revealed the investigation.
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Rupee falls 9 paise to record low of 90.87 against US dollar in early trade
Mumbai (PTI): The rupee plunged 9 paise to a record low of 90.87 against the US dollar in early trade on Tuesday, weighed down by sustained FII outflows and no breakthrough in the India-US trade deal.
However, a weaker greenback and a decline in global crude oil prices capped further losses in the domestic unit, according to forex traders.
At the interbank foreign exchange, the rupee opened at its all-time low of 90.87 against the US dollar, down 9 paise from its previous close, and traded in a narrow range of 90.77- 90.87 in early trade.
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The rupee on Monday settled at a new all-time low of 90.78 against the US dollar, registering a loss of 29 paise over its previous close, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
"The US-India trade deal still seems to be off by a distance with the Commerce Secretary saying the first phase will be signed before the end of the year and news that we are closest to the deal being signed. The uncertainty has clouded the recovery on the USD/INR pair as the rupee opened lower with dollar buying happening every day," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Even a reduction in trade deficit on Monday could not bring about a recovery in the rupee with Foreign Institutional Investors (FII) outflows continuing, he added
According to the latest government data released on Monday, India's trade deficit narrowed to a five-month low of USD 24.53 billion in November, as exports rebounded by 19.37 per cent to a six-month high of USD 38.13 billion after contracting in October, driven by higher shipments of engineering and electronics goods.
At the same time, the country's imports dipped by 1.88 per cent to USD 62.66 billion due to a fall in the inbound shipments of gold, crude oil, coal, and coke.
FIIs sold equities worth Rs 1,468.32 crore on Monday, according to exchange data.
Also, wholesale price inflation stayed in the negative for the second consecutive month in November at (-) 0.32 per cent, even though there was an uptick in prices of food articles like pulses and vegetables on a month-on-month basis, government data showed on Monday.
Wholesale Price Index (WPI)-based inflation was at (-) 1.21 per cent in October and 2.16 per cent in November last year.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 98.27.
Brent crude, the global oil benchmark, was trading 0.61 per cent lower at USD 60.19 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index, Sensex, declined 363.92 points to 84,849.44 in early trade while the Nifty was down 106.65 points to 25,920.65.
