Bengaluru police have arrested two electric vehicle company owners for allegedly cheating buyers by offering EVs at subsidised prices under the guise of a Prime Minister scheme.
The accused, Hanumantha Bilkar, owner of Bilkar Technologies in Ramaiah Layout, Nagasandra, and Rakesh, owner of Appke EV in Peenya, were apprehended following complaints filed on February 11 and February 23 at Peenya and Bagalagunte police stations.
According to DCP (North-West) DL Nagesh, the accused arranged loans in buyers’ names that were credited to their companies. The loans were reportedly nearly double the price of the vehicles, and buyers were told they only needed to pay the last few EMIs while the companies would cover the remaining installments. Initially, some EMIs were paid, but later the companies stopped, leaving buyers to face demands from banks and finance firms.
Police said the companies procured parts for the EVs from Delhi, assembled them in Bengaluru, and sold them through their showrooms.
One victim, Smruthi (38) of Chokkasandra, told police that she visited the Appke showroom in November last year. She was told to deposit ₹25,000 for a vehicle priced at Rs70,000, with the company arranging a bank loan for the remainder. The vehicle was never delivered, and Smruthi later discovered a loan of about Rs1.4 lakh had been taken in her name, with Rs5,463 debited monthly from her account.
In another complaint, P Ramesh (48) of Doddabidarakallu reported that he deposited Rs13,000 at the Bilkar showroom for a Rs70,000 EV. The accused allegedly took a Rs1 lakh loan via Zype app in his name but failed to deliver the vehicle, leaving him to pay EMIs.
Senior police officers said the accused had taken loans in the names of around 900 people. While vehicles were delivered to some, the companies allegedly stopped paying EMIs, defrauding multiple buyers.
