Land Gifted To Three Granddaughters, Then Mortgaged For ₹2 Crore! EOW Registers Bank Fraud Case In Bhopal

Bhopal (Madhya Pradesh): The Economic Offences Wing (EOW) has registered a cheating case against a mother, her son and daughter-in-law for allegedly obtaining a Rs 2 crore bank loan by mortgaging land whose ownership rights had already been transferred through 'Hiba' (gift under Muslim personal law) to the woman's three granddaughters.

The woman (mother), who was alive when the alleged fraud was committed, has since died, officials said on Wednesday.

Officials informed that in 2013, Nikhat Smamim, her son Zishan Ali and his wife Naznin Ali had transferred ownership rights of land in Bawadiya Kalan, Bhopal, through 'Hiba' to the couple's three daughters, who were also Smamim's granddaughters. Two of the girls were minors and one was an adult.

Two years later, in 2015, they mortgaged the land against a loan of Rs 2 crore from a nationalised bank. In the legal search report, they claimed that the land was clear and in the 'minor' column, they stated 'none' and did not mention the transfer of ownership rights through 'Hiba'. They concealed the transfer from the bank.

The family was aware of the legal aspects of land ownership, as the couple had taken permission from the court to sell another plot which was in the name of their minor daughter.

However, six months later, they mortgaged the land, concealing the ownership transfer from the bank.

In 2017, the account turned into a non-performing asset (NPA), but before the bank could serve a notice under the 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act', the daughters filed a civil case against their parents and the bank, stating that the land belonged to them and no one could take their property.

The family lost the case and filed a case in the 'Debts Recovery Appellate Tribunal, Allahabad'.

The bank, in its reply, stated that the case was 'proxy litigation'. In 2019, the Jabalpur court ordered recovery of Rs 2.07 crore from the family. Following the alleged cheating, the EOW registered a case against the mother, son and daughter-in-law.