Loan company's proprietor arrested for fraud

Delhi Police's Crime Branch has arrested proprietor of a loan company for allegedly duping several people including a Navi Mumbai businessman worth crore of rupess on promise of providing them cheap loans.
The accused Kapil Kannav (28), a resident of Bahaduarh in Haryana, ran the loan company 'Bharti Value Ltd' based in Noida.
It offered various kinds of loans including business loans. Kannav was wanted in several cases of cheating in many states, police said.
The Mumbai businessman was cheated of over Rs 30 lakh by Kannav's company. He was promised a loan of Rs 5 crore and was made to pay Rs 30,50,000 in instalments under the garb of various charges such as processing fees, security deposit and taxes, they said.

However, no such loan was ever paid. The victim then approached the police and a case of cheating was registered at Turbhe MIDC police station in Navi Mumbai.
A team of Navi Mumbai police contacted Crime Branch of Delhi Police that caught Kapil from Dwarka on a tip-off yesterday.