CID arrests suspect in Krushi Cooperative Urban Bank case

Hyderabad: The Telangana Crime Investigation Department (CID) arrested a suspect who is allegedly involved in the Krushi Cooperative Urban Bank case which has been pending for the last 22 years.

Kagithala Sreedhar (51), Director of Krushi Cooperative Urban Bank, Ranigunj, Secunderabad has been arrested. He was a suspect in the case along with Chairman and Managing Director K Venkateshwara Rao and other directors for misappropriation of Rs 36.37 crore.

Sreedhar was not attending the court proceedings and hence the court issued NBW against him. A special team caught him at Palakollu mandal in West Godavari district of Andhra Pradesh and arrested him. A case was registered at Mahankali police station in 2001 against them and later transferred to the CID for thorough investigation.