Rajkot police arrest six for machinery loan fraud

Six individuals have been booked in Rajkot for allegedly misappropriating a machinery loan, leading to charges of cheating and breach of trust. The accused, including Ronak and Kajal Shekhda, secured a Rs 1.95 crore loan from Canara Bank in March 2024 to purchase machinery for their firm, Titan Exim, but the machines were never delivered. Funds were instead transferred to other companies. The investigation revealed the loan was misused, with machine orders canceled without the bank's knowledge, and internal financial dealings among the accused.