The Pakala police on Friday morning arrested two persons on the charge of cheating eight farmers of various villages of Pakala mandal and seized eight tractors worth ₹60 lakh.
The duo - B. Madhava Naidu of Pakala and Chittibabu of Chittoor town - last year met a number of farmers in Pakala mandal, luring them with tractors at throwaway prices. Believing their words, eight farmers handed over their land documents to the duo and cooperated with them to mortgage the same with a finance company, procuring loans for purchase of tractors.
After purchasing the tractors, the duo struck a deal with the farmers that each of them would be paid ₹10,000 per month for leasing their tractors. Early this year, the duo forced the farmers to sell away the tractors in Chennai at ₹60 lakh, saying that new tractors could be purchased. The two managed to get payments in their names and later went absconding.
A few days ago, the farmers who had mortgaged their land documents received notices for payment of interest and renewals from the finance company. Realising that they were cheated, the farmers approached the Pakala police, who swung into action and arrested the duo. Later, they recovered the tractors from Chennai.
