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A team of Hyderabad Police on Tuesday raided at company office in Noida sector 63 and arrested Pavan, Managing Director and his son Hitikh Malhan."Pavan and Hitikh Malhan were arrested from Noida, while they tried to escape from the company," a senior police officer said, adding that some more arrests in this fraud will be made soon. A police team on Wednesday again visited the company in Noida and seized some documents.The police have freeze bank accounts of eBiz.com Pvt Ltd company and its directors that purportedly have around Rs 389 crore deposited in them. The Malhans were running the company since 2001 from Noida."The company head office was sealed by the police and an amount of Rs 389 crore were frozen in the company's bank account. During investigation it was found that Pavan as MD, his wife Anitha as Dierctor and son Hitikh looked after company's affairs," he said.Two cases were registered against the company at Warangal and Adilabad, said V.C. Sajjanar, Commissioner of Police, Cyberabad.Cases against this company were registered all over the country. The accused persons used to targets students and unemployed youths.The promoters of company gave them motivational lectures stating that there is a profitable business opportunity which will yield them huge profits. Once customers joined by paying a DD to the company, a username and password would be generated.The promoters also lured students that their money invested in the company's account would be given back in double figure after a month, he added.( With inputs from IANS )

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