Man held for selling mortgaged plot

A 55-year-old businessman was arrested for allegedly selling mortgaged property in west Delhi’s Punjabi Bagh area, the police said on Monday.

The accused has been identified as Jai Bhagwan Singhal, a resident of East Punjabi Bagh, they said.

A case was registered on the complaint of Alok Kumar, an authorised representative of Dewan Housing Finance Corporation Ltd, against Jai Bhagwan Singhal and others, the police said.

The complainant alleged that Singhal and his family members availed loan against Plot No. 20, Road No. 23, East Punjabi Bagh, New Delhi of ₹4.95 crore and created equitable mortgage of the property by submitting original title documents of the property, a senior police officer said.

“After availing the loan, Singhal sold the second floor to one V. Sunita Rao for a sale consideration of ₹1,25,50,000. Similarly, the third floor with stilt and terrace sold to one Anju Saluja for a sale consideration of ₹1,06,00,000 without any permission from DHFL,” Joint Commissioner of Police (EOW) O.P. Mishra said.

They also filed wrong information with the sub-registrar office that the property was free from all sorts of encumbrances and mortgage, the officer said.

Singhal was arrested and remanded in one-day police custody, Mr. Mishra said.

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Printable version | Jan 26, 2021 10:08:12 PM |

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