A couple was arrested from Maharashtra for allegedly mortgaging a property with different financial institutions using forged documents and availing loans, police said on Saturday.
A case was registered on the complaint of an assistant manager of a finance services company alleging that Anjana Jain, proprietor of a fashion outlet, and Jitender Jain, proprietor of a sweet shop, had got sanctioned a loan of Rs 2.6 crore against their residential property from the complainant company in 2014, a senior police officer said.
They mortgaged their property in Bhajanpura. The documents were verified and the loan was disbursed.
In September 2016, the complainant came to know that the alleged party has also availed of loans from others by mortgaging the same property, the officer said.
During the investigation, the complainant stated that the alleged people availed a loan from them on the basis of a forged property ownership chain and also mortgaged the same property with another finance company as well, Deputy Commissioner of Police (EOW) Vikram Porwal said.
It was revealed that the accused have managed to procure a loan of Rs 25 crore by mortgaging the same property at Bahajanpura with seven different banks and non-banking financial companies, the DCP said.
The modus operandi of the accused persons was to obtain the loan on the basis of forged and fabricated sale deeds of the property being offered as collateral security with the banks.
Thereafter, this loan amount was then disbursed into different bank accounts operated by them, police said.
The loan amount was withdrawn as cash and its partial amount was used for setting up of a temporary factory at Narela Industrial Area so that further loans can be obtained by showing the factory in working condition, they said.
For each loan, the accused used to prepare and submit a new set of forged documents. The cheated amount was mainly used to support the existing “sweets” business run by the accused and to support their lavish lifestyle, police said.
Police analysed the statements of all the previous accounts of the accused and their son. In one of the account statements payment was found made to a medical institute in Bengaluru, Karnataka.
It was found that the son of the accused is pursuing his education at this institution, Porwal said.
Later, they were found changing their hideouts and arrested on Thursday from a rented accommodation at Jalgaon in Maharashtra, the DCP added.
-With PTI Input
