Police arrest couple for cheating bank

Chennai, Jun 2 (UNI) The City Crime Branch police today arrested a couple, involved in two-wheeler financing, for cheating the United Bank of India of Rs one crore by producing fake documents in the city.

Acting on a complaint from the bank, police arrested Babulal Khurana (48) and his wife Lalitha Kanwar (44) from Sowcarpet area.

Police said the duo took a loan of Rs 2.5 crore from the IOB by pledging their original property documents. They had cleared half of the amount.

Meanwhile, they took the colour xerox of the documents and obtained a loan of Rs one crore from the Nungambakkam branch in 2004. Since they defaulted the payment, the bank authorities on verification of the documents found that the papers were not original and preferred a complaint, leading to the arrest of the couple.

They were remanded in judicial custody.

UNI