Bank officials allege that the duo forged documents and gave someone else's property as surety to obtain a joint loan
Bank officials allege that the duo forged documents and gave someone else's property as surety to obtain a joint loan
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"Not only was the address fake, but also the documents provided by the duo were forged," said senior branch manager C B Hugar. "Owners of Indira Electronics and Dhanlakshmi Rice Traders had jointly applied for a business loan. Their offices are located in Sahakar Nagar. The two had given a residential property in Utarahalli, worth Rs 46.26 lakh, as surety," he added.
The bank sectioned the loan after evaluating and verifying the documents submitted last year. The duo stopped paying after a few EMIs, for which the bank sent several reminders as part of the procedure.
When they didn't get any response, they visited the residence of the defaulters on October 23, and found that the house belonged to GN Ananthram, who is the actual owner of the house. Ananthram clarified that he had never availed a loan, or deposited any documents to the bank.
To their shock, officials realised that the duo had not only submitted fake documents but also forged Ananthram's signature and changed the photograph. However, Hugar clarified in the complaint that officials had taken all precautionary measures to verify records before sanctioning the loan.
The RT Nagar police who have taken up a cheating complaint are on the lookout for the accused.u00a0 "We have a few leads, and will track the accused soon," said a police official.
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