The case of selling property mortgaged in the bank by taking millions of loans from Punjab National Bank branches in Jabalpur and Madatal Jabalpur has come to light. The Economic Offences Wing has registered a case of fraud against the accused and is investigating the matter.
According to sources, Amit Patel, a resident of Vijay Nagar, obtained a cash credit loan of 45 lakh rupees and another term loan of 25 lakh rupees from Punjab National Bank branch in Phawwara Check, Jabalpur, on September 25, 2018, for agricultural equipment procurement work.
Nitin Kumar Dubey, father of Seetaram Dubey, was the guarantor. To obtain the loan, the borrower Amit Patel pledged two of his properties and the guarantor Nitin Dubey pledged one of his properties to the bank. After obtaining the above loan, the borrower Amit Patel did not pay the installments. The bank sold all three mortgaged properties. In this way, a total of 80 lakh rupees loan was obtained. Accused Amit Patel and accused Nitin Kumar Dubey have been charged under sections 406, 420, 120.
