Builder, lawyer booked for duping cooperative bank of Rs 8 cr

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Nagpur, Jun 1 (UNI) A local cooperative bank was allegedly duped of more than Rs eight crore by a builder in connivance with a lawyer, by selling off mortgaged property, and mortgaging the property that he did not own, police said today.

The Shikshak Sahakari Bank Limited (SSBL) was deceived a total amount of Rs 8.21 crore in two different cases.

In first case, the builder, identified as Vijay Prabhakar Naidu, in connivance with Advocate Mohan Kinhekar, obtained a loan of Rs 3.71 crore by pledging property with the bank, police said.

However, Naidu later sold off the property without repaying the loan and without obtaining permission from the bank, they said.

In the other case, Naidu and Kinhekar mortgaged property that the builder did not own, to obtain a loan of Rs 4.50 crore from the same branch of SSBL, police said. The builder later defaulted on the loan repayment, police added.

On the basis of a complaint from the branch manager, the police have registered two different offences against Naidu and Kinhekar under sections 420 (cheating) and 34 (acts done by several persons in furtherance of common intention) of the Indian Penal Code , and are investigating further. No arrests have been made so far.

Incidentally, SSBL is controlled by individuals, owing allegiance to the Sangh Parivar.

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