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Eight held for loan papers? forgery

india Updated: Jan 25, 2007 23:53 IST
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POLICE HAVE arrested an eight-member gang of young men who used to prepare fake documents to finance vehicles from banks and then shift their base to another residence.

This gang of well-heeled young men that includes an MBA, an engineer and a student of a management institute of Indore, has so far financed a dozen vehicles, including six four-wheelers and duped the banks to the tune of Rs 50 lakh.

The police have recovered two Innova cars and two motorcycles from them and there is a good chance of recovering more vehicles.

The computers and scanner with which they used to prepare fake PAN cards and other documents have also been seized.
ASP (East) Manoj Shrivastava and CSP Jitendra Singh said that the accused include Vipul (30), son of late H S Rathi, a resident of Gurgaon, Haryana.

He is a studied up to higher secondary. Dushyant Singh (25), son of Lal Singh Jhala is a resident of Nanda Nagar, Indore. Son of an IT inspector, he is a BBA from Pioneer Institute.

Vikas (23) is son of Sanil Sharma who is in construction business in Bhopal. Vikas Tiwari (25) is the son of an RTO agent in Indore. Amit (25), son of Shashi Bhushan Mishra, is a resident of 163, Jawahar Nagar.

He hails from Champabagh, Bihar. He is an MBA. Rupal (25), son of Pratap Singh Parihar, is a resident of Nigam Colony, Shahdol. Son of a sub-engineer, he holds a diploma in IT.

The father of Pukhraj Singh Thakur (24) is an SDO in the irrigation department. Rituraj (28) is son of late Premlal Vishwakarma, a resident of 2, Vijay Nagar, Jabalpur. His father was an executive engineer with the MPEB, and he himself is a BSc.

So far the accused have financed cars from the ICICI Bank, the HDFC, HSBC, Centurion and India Bulls. Some of the accused like Vipul Rathi have also taken personal loans to the tune of Rs 2.80 lakh from various banks.

After getting the vehicle financed, they used to change their addresses and start their operation once again. The accused had also opened three firms—Farm O Can, 203, Vidyapati, Indore, Medipro, Bhagirathpura, Indore, and Sharma Agency, Indore.