Chandigarh police have registered a case of fraud against a couple accused of defrauding ICICI Bank of Rs 50 lakh. The complaint was filed by bank employee Satpal Kumar, leading to charges under sections 406 (criminal breach of trust), 420 (cheating), and 120-B (criminal conspiracy) of the Indian Penal Code.
The accused, Ashish Mohan Gupta and his wife, residents of house number 161 in Sector-27A, took a loan of Rs 50 lakh on July 31, 2006, to purchase a property in Mohali. At the time of taking the loan, they assured the bank that they would submit all necessary documents and repay the loan in installments. However, after making a few initial payments, they stopped repaying the loan.
The case took a serious turn when the bank discovered that the couple had fraudulently sold the property mortgaged to the bank to a third party. This act violated the loan agreement and constituted a serious breach of trust.
Upon learning about the fraudulent sale, ICICI Bank promptly filed a complaint with the police. The Thana-3 police station has now registered a case and initiated an investigation into the matter.
Authorities are examining the details of the loan agreement and tracing the sale of the mortgaged property to uncover the full extent of the fraud. Further updates are awaited as the investigation progresses.
