Vasista Credit Souharda Sahakari case likely to be transferred to CID

Police ask State govt. to designate auditor to help in probe

The cheating case involving Sri Vasista Credit Souharda Sahakari Limited is likely to be handed over to the Criminal Investigation Department (CID).

The Hanumanthnagar police, who are presently probing the case, wrote to the headquarters with the details and the magnitude of the case seeking consent to hand over the case to CID for a detailed probe on Friday. Till Saturday, the police recorded the statement of around 70 people and the amount involved was estimated to be around ₹11 crore.

Even on Monday, the police got statements from around 15 people, sources said.

As it is a financial fraud, the police had also written to the government to designate an auditor to probe and assist the ongoing investigation.

“Some investors have said that they were being paid the interest till last November. The management claims that they could not give them money as many people who borrowed loans have turned defaulters. Whether the management cheated its customers and fraudulently gave loans to people and failed to recover needs to be analysed by experts and hence we sought technical assistance in this regard,” a police officer said.

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