Malkajgiri Police arrest seven in illegal loan racket; gang collected hefty interest in advance, blank signed cheques

HYDERABAD Seven persons were arrested for allegedly cheating borrowers through an illegal lending network that promised large loans, collected exorbitant advance interest and used blank signed cheques and promissory notes to demand more money. Police have identified seven victims and are examining another 20 potential victims across the Malkajgiri Police Commissionerate limits. https://www.thehindu.com/news/cities/Hyderabad/five-arrested-in-hyderabad-for-operating-fake-online-loan-racket/article70619026.ece The arrests were made by the Special Operations Team (SOT), L.B.

Nagar Zone, on Thursday (November 5, 2026). The accused are 48-year-old Kumbam Nagamma, 45-year-old Kandela Gangamma, 36-year-old Kandela Mangamma alias Rani, and 32-year-old Adulla Anusha. Three others, 24-year-old Kandela Shiva Kumar alias Varun, 38-year-old Vagrigiri Indramma alias Y.V.

Indra, and 32-year-old Gaikwada Swapna, were arrested on October 26. Four other people are absconding. Hefty interest deducted in advance According to the Commissioner of Malkajgiri Police, B.