Raipur Crime Branch Police has arrested Director of Treasure Island mall Narayan Khandelwal for selling a hypothecated shop sealed by banks.
Addressing media persons here on Sunday evening senior police officials of Crime Brach informed that they nabbed Khandelwal from Indore the other day. Even though the mall was hypothecated to the banks, he had sold one of the shop at Rs 67 lakhs, police said.
The director had taken loan from Punjab National Bank and UCO Bank. Due to non-payment of loan amount, the banks had sealed the mall which is still incomplete. The Director, Khandelwal through forged means had sold one of its shop in Rs 67 lakhs. When the victim came to know that he had been duped. He later lodged the complaint with police. Following the complaint, police arrested Khandelwal from Indore after producing him before court after bringing him through transit remand, had taken him in police custody for two days, police officials informed. He would be interrogated during the period.