Businessman cheats bank of Rs 1.7 cr in Bhopal

  • HT Correspondent, Hindustan Times, Bhopal
  • Updated: Oct 13, 2014 19:15 IST

In a major fraud, a businessman obtained Rs 1.7 crore loan from a bank using forged credentials of an engineer and presenting him as a guarantor to his loan, police said.

The engineer, Murli Manohar Shrivastava, whose credentials were used to commit the fraud, came to know of it only after the bank published advertisements in local newspapers to auction off his farmhouse at Khajoori to realise the unpaid loan. Shrivastava is posted with the water resource development department at Balaghat.

According to the police, Sanjay Sabnani, who runs a firm M/s Om Sai Sudarshan Infrastructure, obtained a loan of Rs 1.7 crore from Punjab National Bank, JK Road branch, on August 31, 2012. He used a fabricated voter identity card of Shrivastava to present him as a guarantor.

Shrivastava's Khajoori farmhouse was mentioned in the loan papers to make him eligible as a guarantor to such a huge loan. When Sabnani didn't pay the loan, the bank, following due procedure, issued notices in local newspapers to auction off Shrivastava's farmhouse to realise the loan.

A shocked Shrivastava then explained his situation to the bank officials. The police have registered a case on the victim's complaint and started hunt for the runaway businessman.

Meanwhile, the police have stopped the bank from auctioning Shrivastava's farmhouse. The investigating officer didn't rule out the connivance of bank officials in the incident.

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