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Rs 2 crore fraud in Small Finance Bank, Case file against 17 people


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On Friday, the Kasturba Marg police station in Borivali filed a fraud case against 17 individuals. They are accused of obtaining loans from a small finance bank through fraudulent means, using fake documents, and subsequently selling the mortgaged properties. This led to a financial loss of Rs 2.32 crore for the bank.

Anant Arolkar, 47, the Area Legal Manager at Equitas Small Finance Bank Limited, lodged the FIR. The individuals named in the case include Laltu Shome, Poonam Shome, Babu Shaikh, Shaeenbano Shaikh, Vinay Tiwari, Rina Pandey, Mangesh Bhandare, Mansi Bhandare, Suresh Doshi, Kalpana Doshi, Pankaj Tiwari, Jyoti Tiwari, Malvika Desai, Himanshu Desai, Ravi Vishwakarma, Vinod Sidhhu, and Mahendra Mokal. They are facing charges under various sections of the Indian Penal Code.

The accused, twelve of whom reside in Nalasopara and Vasai areas of Palghar district, while the remaining five are from Mumbai, allegedly collaborated with employees from the credit team of the small finance bank. According to the complaint, spanning from 2015 to the present, these individuals mortgaged their properties with the bank, securing loans by submitting forged documents, including fake NOCs from their housing societies.

The FIR states that the accused, in collusion with bank executives, obtained loans and later sold the mortgaged properties to third parties with fraudulent intent. This action resulted in a significant loss of Rs 2.32 crore for the complainant bank. Some individuals who knowingly purchased these properties, despite being aware of their mortgage status, are also implicated in the case.

The police are currently examining the bank loan documents and investigating the bank accounts of the beneficiaries to determine the extent of the accused persons’ involvement, according to a police officer.

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