Police said the incident came to light when one of the accused did not pay any installment and the bank sent a possession notice to the flat.
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The Amboli police recently arrested the former manager of Dena Bank for allegedly duping the bank by approving a loan of Rs 51 lakh based on forged documents.
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Police said two other accused Dilip Kokne and Ajay Pitar Sajan were arrested earlier, while former manager Prafulkumar Punchand Mishra was absconding.
According to the police, in 2016, Sajan had approached the Dena Bank branch at Manish Nagar, Andheri, and applied for a loan of Rs 51 lakh by producing forged documents in another person's name. Mishra, who was the bank manager then, had approved the loan without verifying the documents.
Police said the incident came to light when Sajan did not pay any installment and the bank sent a possession notice to the flat. The actual owner of the flat, Marta Rosario, then approached the current branch manager who filed a complaint with the Amboli police.
Mishra was produced before the Andheri metropolitan magistrate court and remanded in police custody till October 19.
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