Three men, including a senior manager with UCO Bank, have been arrested by the Delhi Police Crime Branch for allegedly getting vehicle loans sanctioned on forged documents for hefty commissions.
The breakthrough came after one of the victims disclosed to the police the modus operandi adopted by the gang members, who used forged Income-Tax returns, salary slips and identification papers to get the loans sanctioned. Based on the findings, the Crime Branch registered a case and zeroed in on the alleged mastermind, Subodh Kumar (30), who was a management post-graduate.
The accused was arrested at Krishna Nagar. The police purportedly seized from him documents pertaining to a large number of previously sanctioned loan cases along with forged supporting papers. “During interrogation, the accused disclosed that he would get the loans sanctioned through a close friend from his village in Odisha, Ram Chandra Dash (56), who worked at the Laxmi Nagar branch of UCO Bank as a senior manager. The accused would clear applications of even those not eligible for loan. They would use forged papers to get their job done,” said Additional Commissioner of Police (Crime Branch) Ravindra Yadav.
At Subodh’s instance, the police arrested the bank manager. “In a unique case, the vehicle loan sanctioned using fake papers was encashed by another accused Sunny Rakhrai (29). Instead of purchasing the car, the accused opened a forged bank account and got the demand draft cleared showing himself as the automobile dealer. He has also been arrested,” said Mr. Yadav.
The police identified another case in which one Rajkumar had applied for a loan of Rs.11 lakh to purchase a vehicle costing Rs.13.50 lakh. His application was rejected on the basis of his Income-Tax return papers. He then approached Subodh and in lieu of Rs.25,000 he agreed to get his loan sanctioned. Rajkumar was asked to deposit Rs.2.5 lakh in the bank as margin money.
“The loan was sanctioned for Rs.13.50 lakh but the margin money was not adjusted against the sanctioned amount. The instalments for repayment had also been fixed at a steep rate. When the complainant approached the bank manager, he was told to contact Subodh. Subsequently, the victim lodged a complaint with us,” said the police officer.
The police said Subodh was earlier arrested in a similar case registered at the Krishna Nagar police station. He had earlier worked with a multinational company as a team leader and as a sales development manager with a reputed financial institution.