Udupi: Case filed for loan default and forgery

A case has been registered at the Udupi City Police Station against three persons alleging loan default and the creation of forged documents to show loan repayment.

The complaint, filed by Ganesh, manager of Ajjarkad-based Nutan Credit Co-operative Society mentioned that Riyanath Banu, Mohammed Hanif, and Numaan took a Rs 8 lakh loan by mortgaging a Hyundai car registered under Banu’s name. Mohammed Hanif and Numaan signed as guarantors for the loan.

The accused submitted loan applications, promissory notes, consent letters, and other documents to the society, promising repayment. However, instead of repaying the loan, they allegedly created forged documents, including a repayment certificate and signature on Form 35, and submitted them to the RTO office, claiming the loan had been cleared.

Based on the forged documents, they removed the vehicle’s mortgage entry and pledged the same car with ICICI Bank’s Mangaluru branch to secure another loan.

Ganesh lodged a complaint after discovering the forgery and default. A case has been filed, and investigations are underway.