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Two Navi Mumbai car showroom owners booked for cheating bank
Navi Mumbai The Kharghar police have booked owners of two car dealerships and 11 others for allegedly cheating Canara Bank of ₹82.8 lakh by taking car loans on
Navi Mumbai The Kharghar police have booked owners of two car dealerships and 11 others for allegedly cheating Canara Bank of ₹82.8 lakh by taking car loans on vehicles which were already used as collateral in different banks.
The bank authorities have told the police that their internal investigation found that the documents submitted by the debtors were forged.
The manager of the Kharghar branch of the bank approached the police with the complaint after learning of the fraud. Manager Sanjaykumar Barik told the police that 10 people had applied for car loans to purchase Skoda Laura, Hyundai Sonata, Fiat Linia, Maruti Ertiga, Innova and i-10 among others.
When the vehicle loans are disbursed, the debtors have to submit registration certificate (RC Book) and insurance papers of the newly purchased vehicle, the bank authorities told the police.
The bank’s fraud prevention and detection cell started investigations into suspected cases after finding that the debtors were not paying monthly loan instalments after a few regular payments. With the help of the regional transport office, the bank established that the vehicles were already used as collateral for loans from the other banks.
“After the loan money is transferred, the customer has to show proof of vehicle purchased. The customer and the dealer together forged the documents of the vehicles to submit them as new to avail car loans.The money was however swindled by the accused ,” said an officer from Kharghar police station.
The police have booked the owner of two car dealers along with 11 others who allegedly availed the loans for cheating and forgery.
