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3 Rajasthan natives booked for duping UCO bank in Ludhiana of Rs 10 crore
The accused had allegedly taken a loan from the bank by keeping their guar crop, worth Rs 14 crore, as the collateral.
Police have booked three Rajasthan-based persons, including a woman, for defrauding the UCO Bank of Rs 10 crore.
The accused, identified as Amandeep Singh, Aditya Kumar and Swati Karwasra of in Rajasthan, had allegedly taken a loan from the bank by keeping their guar crop, worth Rs 14 crore, as the collateral.
The accused had told the bank that their crop was stored in a warehouse in Khanna.
“However, when the bank officials inspected the warehouse on July 6, there was no stock,” said investigating officer Balbir Singh.
The loan had been availed in October 2019, and the accused were to pay it back within a year, but now they are untraceable. Sources said the bank officials tried to reach the trio over the phone, however, their phones were switched off.
After several attempts to reach them, the bank officials finally lodged a police complaint.
The case has been registered under Section 420 (cheating), 406 (criminal breach of trust), 120- B (criminal conspiracy) of the Indian Penal Code at Division No 6 police station. A manhunt has been launched for the accused, the IO said.
UCO bank’s assistant general manager, Ramesh Nagpal, who is the complainant in the case, could not be reached for comments despite several attempts.
