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Tuesday, September 22, 2020

2 persons booked for ‘loan fraud’ in Ahmedabad

The duo allegedly got a loan of Rs 1.99 crore from Central Bank of India ‘s branch at Saijpur Bogha in Ahmedabad in 2019 and later allegedly committed fraud against the bank

By: Express News Service | Ahmedabad | September 2, 2020 3:27:09 am
Ahmedabad crime news, ahmedabad fraud, ahmedabad Central Bank of India bank fraud, ahmedabad bank fraud, indian express newsThe bank had sanctioned a loan of Rs 1.99 crore for the duo for their company Messrs Hir Metal Corporation. (Representational)

Two persons were booked for fraud after they took a loan of Rs 1.99 crore from Central Bank of India’s branch in Ahmedabad to buy machinery and allegedly sold them later to a third party and did not pay back the loan.

According to an FIR filed at Sardarnagar police station on Monday night, two accused — Krishna Kumar Purohit and Jabaram Purohit, residents of Nikol in Ahmedabad — were booked under IPC sections 406 (criminal breach of trust), 420 (fraud )and 114 (criminal conspiracy).

The duo allegedly got a loan of Rs 1.99 crore from Central Bank of India ‘s branch at Saijpur Bogha in Ahmedabad in 2019 and later allegedly committed fraud against the bank. According to the complainant in the case, Ashish Shrivastava, Regional Manager of Central Bank of India, the duo had approached the bank for loan under Micro Small and Medium Industries (MSME) scheme.

“The bank had sanctioned a loan of Rs 1.99 crore for the duo for their company Messrs Hir Metal Corporation. The accused duo had to submit a receipt of production and raw goods every month,” said the complainant in the FIR.

“However the accused did not submit receipts after which the bank got suspicious and we checked and found that the accused had sold all the machinery and mortgaged land to third parties,” the complainant added.

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