The owners of Mango mobile phone , which was set to be launched Yesterday, have been arrested by the Kalamassery Police.
The shadow police arrested the owners on a complaint filed by authorities of Bank of Baroda alleging that the duo cheated the bank.
Much awaited launch of Kerala based Smart phone Mango Phone (MPhone) owners arrested today from the hotel where the launch was planned.
Mr. Anto Augustine and Josootty were arrested around 4 PM today from le meridian hotel where the launch was planned at 5 PM.
The arrest was due to a petition filed by Bank of Baroda for 2.5 cr loan they have taken but never paid back.
It is said by police that they have taken loan from several banks like this. The launch was given to an Event management company for 30 lacks.
They have also given full page ad on front pages of major Malayalam news papers Yesterday.
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