15 booked for cheating private bank of ₹1.64 crore

NM Joshi Marg police booked a manger of a car dealer shop, a loan agent and 13 others for allegedly submitting bogus and duplicate documents to IDBI Bank and fraudulently securing car loans to the tune of ₹1

NM Joshi Marg police booked a manger of a car dealer shop, a loan agent and 13 others for allegedly submitting bogus and duplicate documents to IDBI Bank and fraudulently securing car loans to the tune of ₹1.64 crore and duping the bank.

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The first information report (FIR) in the case was registered on Wednesday and police would soon summon the accused for inquiry.

Rupali Shriram, branch manager of Lower Parel branch, IDBI Bank, in her complaint to the police, said that the bank received an email from the head office in January this year, directing all branch managers to verify all vehicle loans and sought a detailed report.

As part of the task, documents of all vehicle loans were subjected to scrutiny by the bank and discrepancies were found in 13 loans processed through a Kalyan-based car dealer and an agent Santosh Kambale, police said.

When the bank visited the car dealer for inquiry, it was revealed that the car dealer’s bank account in which the loan amount of ₹1.64 crore was transferred actually belonged to Kambale.

“Kambale allegedly conspired with Jayesh Ashokan, manager of the car dealership and 13 other people, and on the basis of bogus and duplicate documents secured loans from the bank and used it for personal gains. The customers who had taken the loan from the bank have defaulted in paying the EMIs and caused wrongful loss to the bank,” the complainant bank manager said.

A police officer said, “We have recorded the manager’s statement and on Wednesday registered a case against 15 accused under sections 420, 465, 467, 468, 471 and 34 of the Indian Penal Code for cheating, forgery, and common intention.”

The police have begun investigation and are checking if the accused are involved in duping other banks. No arrest has been made in the case so far, the officer added.