Bizman held for forgery, duping partner

Hyderabad: A city-based businessman, Kantidutt Thonangi, was arrested by the Jubilee Hills police almost ten months after a case was registered against him for cheating, criminal breach of trust, and forgery. The case was lodged by his business partner, Tippala Srija, over forged signatures. The duo had floated Tritiyaa Fine Jewellers together at Jubilee Hills a year ago. According to police, Srija and Thonangi floated the jewellery brand, which was officially inaugurated by a Bollywood actress. Later, during Aug 2023, the company proposed a business expansion, and Srija alone invested around 2.5 crore. Later, Thonangi approached the ministry of corporate affairs and submitted Srija's resignation letter allegedly without her knowledge. He immediately held a board meeting without issuing any notice to Srija, and her resignation was accepted in the same board meeting. Subsequently, she was removed from the company as director, and his mother, Sridevi Thonangi, came onboard in Srija's place. Srija got to know of this much later, following which she filed an RTI in Sept 2023 and found that her signature was forged in her resignation letter submitted to the ministry. Thonangi was detained in the city on Saturday and after questioning was produced before the court and sent to judicial remand on Sunday, said a Jubilee Hills police official. Further investigation is underway to dig deep into his other fraudulent activities, added the official. Thonangi is also alleged to have duped several others in the name of investing in his companies by claiming that Bollywood and Tollywood personalities invested in his businesses, said Jubilee Hills police.