Man arrested for cheating bank using forged documents


A man from Delhi was arrested by the Economic Offences Wing Police for cheating a nationalised bank using forged documents to obtain crores of rupees.

The accused has been identified as Harjit Singh. It is reported that the complainant and the accused were brothers and directors of the accused company Libra Finance and Libra Leasing. In 1992, the accused company obtained a loan of Rs 80 lakhs by pledging five properties jointly owned by three brothers and their wives. The cash credit limit was enhanced from Rs 80 lakh to Rs 2 crore in 2005, to Rs 5.5 crore and then to Rs 10 crore in 2010.
It was detected that the signature on the loan documents were forged and the loan turned into an NPA -non performing asset in 2014. The bank initiated proceedings against the accused company and began to auction the three pledged properties. The accused has been arrested and taken into police custody. Investigations are going on to unearth the conspiracy.



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