2 cheat bank of Rs. 15 lakh by securing loan on forged docs

The suspects, both residents of the city, produced forged documents to get the loan from the bank in 2011. Police said that the suspects paid equated monthly instalments (EMIs) for some time but later stopped doing so.

Two men were booked on Friday for allegedly using fraudulent documents to procure a loan of Rs. 15 lakh for a property from a public sector bank that they did not own. According to police, when bank officials went to seize the property after not getting monthly instalments of the loan amount, it was revealed that it has been sold to someone else.

The suspects, both residents of the city, produced forged documents to get the loan from the bank in 2011. Police said that the suspects paid equated monthly instalments (EMIs) for some time but later stopped doing so. (BLOOMBERG NEWS)

The suspects, both residents of the city, produced forged documents to get the loan from the bank in 2011. Police said that the suspects paid equated monthly instalments (EMIs) for some time but later stopped doing so. The bank then sent multiple notices to the suspects but they did not respond.

Satish Kumar, assistant sub-inspector (ASI), Sadar police station, said, “Initially, the bank did receive regular instalments from the suspects but when the payments stopped, the bank got suspicious. It decided to seize the property. However, when the bank officials reached the spot, they realised that the property did not belong to the two men and it was sold to someone else. Police are investigating the case and the suspects are yet to be arrested.”