Arunachal police arrest fugitive Kalidas Jain in multi-crore loan scam from Ajmer

Itanagar Capital police in Arunachal arrested one fugitive Kalidas Jain, known as KD Babu after evading police for six months in a multi-crore loan scam. 

The accused has been apprehended in Rajasthan with the help of local police. 

This comes after an FIR was received from Mahesh Kumar Jain on 04-08-2023, stating that Kalidas Jain had taken a loan of Rs. 50,00,000 with an agreement to repay it with interest by 31-03-2024. 

Later, two complaints were received from Nani Ribia and Padi Yapi against Kalidas Jain, alleging that he had taken loans of Rs. 50,00,000 and Rs. 12,00,000 respectively and absconded. Kalidas Jain, also known as KD Babu, 80, son of Lt. Lachand Jain of Beawar, Rajasthan, had been evading the police for the last six months, hiding in Rajasthan. 

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Using electronic and human intelligence, the accused was located in Rajasthan. 

A team consisting of SI Samuel Ngupok, SI Padam Padi, Ct. Jumli Zirdo and Ct. Dharmendra Gupta, under the close monitoring of Inspr. Y. Riram OC Itanagar and Dy.SP Kengo Dirchi SDPO Itanagar, moved to Churu district, Rajasthan to apprehend the accused, but he evaded them again. 

On the morning of 01-07-2024, with local police assistance, the team raided the house of Yogesh Jain.  The accused was found hiding in a room near a staircase. 

He was arrested following all legal formalities and is being brought back to Arunachal.  The operation was successfully conducted under the supervision of Angad Mehta IPS I/C SP, Itanagar.