HYDERABAD: A day after the chief executive officer and chief financial officer of
Karvy
Stock Broking Limited (KSBL) were arrested by Central Crime Station (CCS) sleuths of Hyderabad police,
KSBL
’s company secretary Y
Sailaja
was apprehended on Friday.
She was arrested on the charges of issuing a fake resolution document to claim that the board of directors of KSBL had passed a resolution to avail a bank loan. Police said that when they were investigating KSBL’s default of ₹350 crore loan to
HDFC Bank, they found a fake resolution copy was submitted to the bank. The fake resolution was certified by Sailaja in her capacity as company secretary of KSBL.
HDFC Bank was unaware it had relied on the alleged fake resolution, police said. The officials, who collected the loan application form by KSBL while applying for a loan in HDFC, found that the board of directors of KSBL had not passed any resolution in this regard.
“KSBL’s company secretary has created a false resolution document, which was claimed to have been passed in the 2018 meeting of board of directors. However, in the meeting, it was not resolved as per the minutes of board of directors,” Hyderabad joint commissioner of police Avinash Mohanty told TOI.
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