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Private company booked for cash credit fraud

Police said that the suspects, after availing the limit amount Rs 1,78,72,341, failed to regularise the account, as a consequence thereof, the account was classified as NPA in March, 2016.

The accused then transferred the mortgaged property and started raising construction, to which they allegedly had no right. Police have started the investigation.(File)

Two owners of a private firm were booked for committing forgery with Allahabad Bank, Sector 8, here on Friday. They were identified as Baldev Chand Bansal and Tarjinder Kumar Bansal of Avril Traders Private Limited. Police said that Ajay Kumar, AGM, Allahabad Bank, alleged that Avril Traders had approached the bank to avail the facility of cash credit (CC) limit in the year 2000.

He reported that the CC limit of Rs 35 lakh was sanctioned in 2000, which was later enhanced to Rs 1 crore in 2011. Police said that the suspects, after availing the limit amount Rs 1,78,72,341, failed to regularise the account, as a consequence thereof, the account was classified as NPA in March, 2016.

The accused then transferred the mortgaged property and started raising construction, to which they allegedly had no right. Police have started the investigation.

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First published on: 06-08-2022 at 02:55:11 am
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