Tollywood filmmaker SK Basheed Arrested

SK BasheedThe hyderabad police have arrested Tollywood Filmmaker SK Basheed, for defaulting the Bank by taking loan on mortgaged property with other bank.

SK Basheed has produced films like ‘Allare Allari’, ‘Mental Police’, ‘Notuku Potu’ and ‘Fire’. Basheed, along with Vimal Goel, proprietor of GM Jewellers, had cheated the Bank of Baroda of Himayat Nagar branch by obtaining loan on already mortgaged property.

Manager of the Bank of Baroda , Nageshwar Rao filed a complaint that Vimal Goel obtained the Rs 2 crore loan on Road No 7, Banjara Hills with Basheed as guarantor. Police investigation found that they both had defrauded Rs 11 crore to several banks