Trader accused of loan fraud by his employees, relatives

The petitioners at the Salem Collectorate on Monday.   | Photo Credit: LAKSHMI NARAYANAN E

Employees and relatives of a puffed rice trader near Shevapet petitioned the District Collector here on Monday alleging that the trader took huge loans in their names from a nationalised bank without their knowledge.

The petitioners complained that the trader, R. Babu, colluded with a staff at the nationalised bank and took loans in the names of 12 persons and failed to repay.

Due to non-payment of dues, they were facing legal action from the bank.

The petitioners said that their ration card copies and passport size photographs were collected by R.Babu on the pretext of opening a savings account in the bank and the loan papers were signed by someone else.

The petitioners claimed that the loans were taken since 2013 for amount ranging from ₹ 2 lakh to ₹ 10 lakh at multiple branches of the bank.

The petitioners requested the State government to take necessary action against the trader.

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Printable version | Jan 26, 2022 11:55:20 AM |

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