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NT Bureau
Chennai, July 3:

        A financier was detained under the Goondas act for allegedly cheating two nationalised banks by furnishing photocopies of land documents as collateral security here yesterday.

        According to an official press release from Central Crime Branch police, one Babulal Surana (48) of Sowcarpet had allegedly defaulted in repayment of loan to the extent of Rs 1.58 crore recently.

        Based on a complaint from one of the banks, the Central Crime Branch police registered a case and arrested him and his wife.

        Investigations revealed that the accused had also obtained a loan of Rs 50 lakh each in his and his wife's name from another public sector bank at Nungambakkam, but defaulted in their repayment too.

        Subsequent verification of the documents submitted to the banks, as collateral security, showed that they were not original, but photocopies. Based on the confessions, Surana and his wife were arrested on 2 June and a city court detained them under judicial custody.

        Following the recommendation of the investigating officer in the case, Chennai city police Commissioner Letika Saran ordered detention of Surana under Goondas Act from Sunday for a period of one year.