Srinagar, Mar 14 (UNI) Jammu and Kashmir police Crime Branch (CB) has presented a challan in a local court against three people, including a bank manager, for fraudulent sanction of car loan amounting to lakhs of rupees.
A CB spokesman said today a complaint was received that some people, with the help of the manager of Jammu and Kashmir Bank, had got loan on fake documents.
He said during the investigation it was learnt that one Irshad Ahmad Bhat had applied for the loan in the J&K bank at Humhama for purchasing a car in January 2003.
In the process of completing bank formalities, one Mohammad Qasim Lone was shown as guarantor without his contest and knowledge.
It was later learnt that Tufail Ahmad has identified himself as Qasim in the bank for facilitating the sanction of loan by resorting to an act of impersonation.
He said the concerned Branch Manager Farooq Ahmad Beigh, despite knowing everything, accepted him as the guarantor in place of Mohammad Qasim for fulfilling the bank documentation for the sake of a mere formality and as such completed the act of fraud infringing the state exchequer.
Subsequently, Bhat produced fake insurance cover note and certificate of registration bearing number JK04-6711 of his Alto car. However, during the verification, it was learnt the number was allotted to a tipper.
The conspiracy hatched by these three accused persons facilitated the fraudulent sanction of an amount of Rs three lakh subjecting the bank to a complete wrongful loss.
Charge sheet of the case has been presented before the court of the Judicial Magistrate Srinagar, the spokesman said.
UNI BAS GL DS1335