Rs 1.34 crore recovered as RCI directors, staff arrested in Hyderabad

dc-Cover-d4rf5f79litdjghv9ntfdivm11-20160528011101.MediPolice also recovered around Rs1.34 crore from the accused, identified as Sudeep Kumar and Pavan Kumar Gupta (directors), manager G. Nagaraju and custodians K. Lokeshwar Reddy, K. Ajay Kumar, G. Praveen Kumar and R. Pandu. 

 Six persons, including two directors and the manager of RCI Cash Management Services, who were involved in the multi-crore funds siphoning scam, were apprehended by the CCS Police on Friday.

Police also recovered around Rs1.34 crore from the accused, identified as Sudeep Kumar and Pavan Kumar Gupta (directors), manager G. Nagaraju and custodians K. Lokeshwar Reddy, K. Ajay Kumar, G. Praveen Kumar and R. Pandu.

CCS DCP Mr Avinash Mohanty said that RCI Cash Management Service had entered into an agreement with an FSS company to replenish cash at 116 ATM centres in Hyderabad and Secunderabad and resolve technical problems in the machines.

As the company was running in loses, the directors asked the custodians to adjust Rs 2.5 crore from the ATM centres and divert them towards staff salaries and other maintenance expenses.

Meanwhile when RCI failed to renew their agreement in April 2016, FSS stopped placing cash indents and took over all the ATMs entrusted to RCI in May.

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