2 held for embezzling co-op society money

HYDERABAD: Two persons who embezzled Rs 64 lakh of the cooperative society of Hyderabad Industries Company employees were arrested by the Sanathnagar police on Wednesday.
The arrested were identified B Sanjeeva Rao, 48, a resident of Shamlal Buildings in Begumpet and S Laxman, 38, of Moosapet. Other accused E Sudhkar Reddy is at large, the police said.
Police said that the fraud came to light when the new elected body of the society noticed irregularities in the accounts book.The company was engaged in preparing asbestos sheets.
Police have launched a hunt for the accused who is at large.