India, July 12 -- The Delhi Police has arrested a 24-year-old man from Punjab for allegedly being part of a cyber fraud syndicate that fraudulently obtained loans worth around Rs 1.6 crore by misusing Aadhaar and PAN details of nearly 50 people, an officer said on Saturday.

The accused, identified as Ajay Kumar, was arrested on Friday. A mobile phone allegedly used in the crime has been recovered from his possession, police said.

The case came to light after a Delhi resident lodged a complaint on June 25, stating that he had started receiving calls from a loan recovery agent demanding EMIs for a personal loan of Rs 4.5 lakh that he had never taken.

Police said the complainant later found that a loan had been fraudulently availed in his...