The owners of a private finance company at Kumbakonam which was raided by the district police last month following a complaint of cheating, have been arrested by a special police team on Thursday.
According to the police, a couple, Jabarullah and Fairosbanu of Kumbakonam, lodged a complaint with the police stating that the finance company had failed to repay a sum of ₹15 crore to them on the maturity of their deposits.
Subsequently, special police teams were formed to investigate the case and the finance company premises raided. While the special team arrested a staff of the company on July 21, the company owners went into hiding.
The special teams reportedly traced the owners, M. R. Ganesh and M. R. Swaminathan, at Pudukottai and arrested them on Thursday. They were brought to the District Police Headquarters and interrogated, police added.
