India, Sept. 7 -- A 32-year-old man was arrested from the city on Friday for his alleged involvement in Rs.11.25 crore loan fraud with a non-banking financial firm (NBFC) and hundreds of its customers that had borrowed money from it, police said on Saturday.

The suspect was identified as Satish Chandra, an MBA graduate originally from Narayana village in Prayagraj, Uttar Pradesh. Police said he worked as a general manager of a private firm in the city for the last two years.

Sandeep Turan, public relations officer of Gurugram police, said that Chandra's firm was handing the responsibility of searching customers for loan, collecting equated monthly installment from them and other documentation works for the NBFC that ran from an office i...