Ludhiana: Man-son duo booked for cheating ICICI Bank of ₹38.4 lakh

ICICI Bank said the duo had taken a car loan, but instead of paying it back, they made a fake NOC which they submitted with the office of Regional Transport Authority (RTA) secretary to get the hypothecation removed from the registration certificate

Police on Thursday booked a man and his son for duping ICICI Bank of ₹38.47 lakh.

It was further alleged that the duo availed of another loan of ₹24 lakh against the new registration number of the car. (Getty Images/iStockphoto)

The accused have been identified as Inderjeet Singh and his son Jaspreet Singh, both residents of Karnail Singh Nagar in Phase 3, Dugri.

The FIR was lodged based on the complaint filed on October 2, 2019, by Gaurav Malhotra, regional head of sales at the Feroze Gandhi Market branch of ICICI Bank .

Malhotra told police that the duo had availed a loan of ₹38.47 lakh to purchase a Mercedes car. He alleged that instead of paying back the loan, the duo allegedly made a fake NOC which they submitted with the office of Regional Transport Authority (RTA) secretary to get the hypothecation removed from the registration certificate.

After getting it removed, they got a new registration number issued for the same Mercedes car and started using its original registration number on their activa scooter.

Moreover, Malhotra alleged that they availed of another loan of ₹24 lakh against the new registration number of the Mercedes from AU Small Finance Bank Limited.

A cheating case has been registered at Division Number 5 police station. Police are also now probing the suspicious role of the RTA department in the case.