Staff Reporter

Money withdrawn from NRI account

VIJAYAWADA: The city police on Thursday arrested Kanchumarthi Kalyana Chakravarthi of Eluru and his associate Kavala Rajulu on the charge of withdrawing money from an NRI account in the ICICI Bank by forging the signature of one of its customers.

Incidentally, Chakravarthi was arrested in February last by the Machavaram police in connection with a similar offence and was in jail for three months.

The police said Gogineni Saibaba of Patamata lodged a complaint with the police that a sum of Rs. 60,000 was missing from the NRI account of his son Sesha Sai. The bank accounts revealed that the money was paid against two cheques deposited in Eluru and Kakinada branches of the bank.

The police caught Chakravarthi when he was making an attempt to withdraw Rs. 1 lakh from the account of Sesha Sai on Thursday.

Chakravarthi, an MBA graduate, worked with the ICICI Bank in 2005-06 as a sales executive of NRI accounts and helped over 100 NRIs open their accounts in the bank, the police said.

Arrest warrant

A police party from Luthiana (Punjab) came to the city on Wednesday to arrest N.M. Srinivas alias Maruthi Nambudri Srinivas of Auto Nagar. S.P. Nahar, proprietor of Nahar Auto Industries in Luthiana, lodged a complaint with the police charging Srinivas with misusing his brand name and selling duplicate spare parts of heavy vehicles by using the logo of his company.

A Luthiana court issued an arrest warrant against Srinivas.

The police found that he was absconding.