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| Two arrested in loan fraud case, GM evading arrest | | | Early Times Report
Srinagar, May 1 : Jammu and Kashmir police arrested two people and launched a massive hunt to arrest the then General Manager of Central Cooperative Bank, Anantnag, for their alleged involvement in loan fraud scandal. A police spokesman said here this afternoon a complaint was received on April 28 from one Mohammad Shaban Khanday, alleging that some people had fraudulently availed loan from bank branch at Mandhi Kadal, Anantnag on his name without his knowledge.
He said a case was registered and investigation taken up during which it surfaced that auto loans were sanctioned in favour of dozens of innocent persons without their knowledge. Police recovered fake letters of authority produced by some borrowers for the issuance of bank loan. The Bank authorities sanctioned the loan in favour of those borrowers, he said, adding some of the borrowers purchased the vehicles while others did not purchase any vehicle.
He further said the auto loans were sanctioned by the Bank in favour of persons without their knowledge and the draft of the sanctioned loan were prepared in favour of un-registered firms, including Khan Auto Deal Old KMD Adda Anantnag, Raj and Co Anantnag and JK Car Centre, Barzulla Srinagar. Investigation also revealed that the loan was taken in favour of some vehicles against which loan had already been taken from other bank. Spokesman said dozens of people, who were shown to have taken loan from the bank, have now produced affidavits before the present General Manager of the bank that they have neither applied for any loan nor have purchased any vehicle.
As per the statement of present General Manager of the bank Javid Ahmad Bhat, Rs 98 lakhs had been withdrawn fraudulently as loan from the Centre Cooperative Bank Shangus, Cooperative Bank Branch Anantnag and Central Cooperative Bank Qaimoh. The accused auto brokers Bilal Ahmad Khan alias Pina Khan resident of Sarnal and Raja Mudasir resident of S K Colony Anantnag were arrested. The then General Manager Atta Mohammad Nath is evading the arrest. A case was also registered against the then Branch Manager Peer Nazir Ahmad and Mohammad Saleem Dar, the then Advance Manager Branch Anantnag. |
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