Two booked for allegedly forging bank documents to evade vehicle loan payment

The accused have been identified as Pradeep Pandurang Salunke and Satyavan Nilkanth Masade, both residents of Rajgurunagar

Two men have been booked for allegedly duping a bank of at least ₹17.5 lakh by submitting false documents to the regional transport office (RTO) and taking possession of vehicles.

The two had booked tipper trucks in December 2017 and had acquired a loan worth ₹20 lakh from a private bank which has a branch in Shivajinagar, according to the police.(File photo for representation only)

The police are on a lookout for the two.

The accused have been identified as Pradeep Pandurang Salunke and Satyavan Nilkanth Masade, both residents of Rajgurunagar.

The two had booked tipper trucks in December 2017 and had acquired a loan worth ₹20 lakh from a private bank which has a branch in Shivajinagar, according to the police.

A complaint in the matter was lodged by Sukhdev Kaluram Limbhore (47) a resident of Indrayaninagar in Bhosari, Pimpri-Chinchwad. He works in the said bank.

The two had paid ₹2,76,800 to the bank and failed to pay following instalments, according to the complainant.

“When they failed to clear their debt, the bank started procedure to confiscate their vehicles bought with the loan money. The bank employees went to the RTO for documents and found this NOC from the bank that states that the loan has been paid off,” said assistant police inspector Somnath Panchal of Maharashtra Industrial Development Corporation (MIDC) Bhosari police station who is investigating the case.

The bank employee who lodged a complaint has submitted that the NOC is forged by making fake letterhead of the bank and fake stamps of the bank.

A case under Sections 420 (cheating), 467 (forgery of valuable security, will, and others.), 468 (forgery for purpose of cheating), 471 (using forged document as genuine) and 34 (common intention) of Indian Penal Code was registered at MIDC Bhosari police station against the two.