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A week ago, when the company staff conducted a surprise check, they found that some machinery and raw materials had been stolen.
Three persons, including two working as security personnel in a private firm operating from Fab city SEZ on the city outskirts, were arrested by Rachakonda police on Tuesday for stealing equipment from the firm.
Since the company was not functional due to financial losses, it had hired security personnel to guard the premises and the machinery. Taking advantage of this, the accused Barkam James and Pasham Lingam stole the equipment and disposed of them through Narayanakhed Sripad Reddy.
A week ago, when the company staff conducted a surprise check, they found that some machinery and raw materials had been stolen. Based on the clues, police nabbed the accused and recovered stolen property worth `11.90 lakh and cash amounting to `3.50 lakh from the accused.
The firm, XL Energy Ltd, has not been operational for the past eight years. To guard the premises and the machinery, they hired security guards from the local village.
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