Police nabbed Ismail after the Kerala High Court dismissed his petition seeking anticipatory bail.
Police say Ishaq and his father Ismail Chulliparambil Bava recruited people from Kerala with promises of high-salary jobs in their company Terrahomes Trading & Contracting WLL.
The pair used the loans in the name of some employees, 5 of whom were trapped in Qatar after failing to repay the loan amounts. The case came to light when Vaisakh Mohan who escaped from Qatar filed a complaint with the NRI cell. Police said Bava is currently also serving a jail term in Doha in connection with another cheating case.