Delhi Police arrests businessman for loan fraud

The Economic Offence Wing of the Delhi Police has arrested a 42-year-old man for allegedly cheating a non-banking financial company after siphoning off the loan amount of over Rs 2 crore, officials said on Saturday.

The accused has been identified as Gambhir, a resident of Bakkarwala near Mundka Industrial Area, they said.

A case was registered on the complaint of Anand Rathi Global Finance Limited.

It was alleged that the complainant company was approached by Gambhir, the proprietor of Shree Ganesh Trading Company, and his wife, Renuka Thakur, for grant of loan against a property situated in Naraina village, police said. The alleged persons managed to avail a loan of Rs 2.77 crore in May 2019 and the loan amount was repayable in 96 monthly instalments of Rs 4,67,112, they said.

The property was mortgaged with the complainant company by depositing the title deed. The loan amount received has been misappropriated. It was also alleged that the property in question which was mortgaged with the complainant company was being auctioned by a bank vide notice in 2019, a senior police officer said. According to the notice, the ownership of portion of the property claimed by Renuka and mortgaged with the complainant bank was allegedly in the name of Rajni Monga, the wife of Pawan Mogha, they said.

It was further alleged that Pawan has sold this property to multiple persons, police said.

During investigation, it was revealed that Pawan executed the sale deed of the entire property in favour of his wife Rajni in two parts. In 2012, he availed two loans of Rs 1 crore and Rs 50 lakh from a bank after mortgaging the property, Special Commissioner of Police (Crime) Ravindra Singh Yadav said.

Pawan did not pay the loan amount and both the loan accounts were declared NPA by the bank, he said.

Gambhir came in contact with Pawan during business deals and became friends. Both were having financial crunch and hatched a conspiracy to get loan sanctioned from another bank on the same property, police said. Gambhir got executed two sale deeds in the name of his wife, Renuka, on June 15, 2018 through Pawan, husband of the owner of the property, in which the amount was shown Rs 3.30 crore and Rs 70 lakh respectively, but actually no transaction took place, Singh said.

Thereafter he availed loan of Rs 2.77 crore after mortgaging the said property through his wife Renuka, police said.

The accused was arrested on Monday from Tikri Lalan Village, Singh added.