E-Paper
Father-son duo booked in Panchkula for selling mortgaged property
The bank said the accused, residents of Sector 7, Panchkula, in order to defraud, transferred the mortgaged property and started raising construction for which they have no right or concern
Police booked a father-son duo for allegedly cheating a bank by selling mortgaged property.
The accused, Baldev Chand Bansal and his son Tarjinder Kumar Bansal, residents of Sector 7, Panchkula, are directors of the Daruya-based Avril Traders Private Limited.
A complaint was lodged by Ajay Kumar, assistant general manager with the then Allahabad Bank (now Indian Bank), Sector 8. The complainant said Avril Traders Private Limited, through its directors Baldev Chand Bansal and Tarjinder Kumar Bansal, had approached the bank for availing the facility of CC limit in the year 2000.
The CC limit of ₹35 lakh was sanctioned in the year 2000, and was later enhanced to ₹1 crore on March 16, 2011. The complainant said the accused, after availing the said CC limit, had to pay back an amount of ₹1.78 crore. As they failed to regularise the account, it was classified as a non-performing asset (NPA) on March 31, 2016.
The bank said after that the accused, in order to defraud the bank, transferred the mortgaged property and started raising construction for which they have no right or concern.
A case under sections 406 (criminal breach of trust), 420 (cheating) and 120B (criminal conspiracy) of the Indian Penal Code was registered at the Sector 3 police station.
