Srinagar, Mar 13: Jammu and Kashmir police Crime Branch (CB) has unearthed Rs 50 lakhs fake loan case sanctioned by the State Bank of India (SBI) in favour of a person who presented fake documents.
A CB spokesman said a case has been registered against Umar Dar for fraudulently obtaining loan of Rs 50 lakh from SBI after mortgaging 4 kannals of land situated at Batamaloo, actually owned by someone else.
The other accused -- Farooq Ahmad Mandoo and Abdul Majeed Bazaz have also been arrested in this connection.
He said information was received that some people had prepared fake documents on four kannals of land situated at Batmaloo.
It said later the accused mortgaged it against a loan of Rs 50 lakhs in SBI. However, during investigation it was learnt that the mortgaged land, belongs to some other person, he said.