Mumbai Fraud Alert: Business Duo Booked For Duping Bank Of ₹1.2 Crore In Kandivali

Mumbai: The Samta Nagar police have registered a case against two businesspersons for allegedly defrauding a bank of Rs 1.2 crore by submitting forged documents to secure a loan. The accused, identified as Ananda Powar and Sonali Powar, are currently absconding and a manhunt has been launched to track them down, said reports.

According to a complaint filed by Rakesh More, a senior official at a reputed bank’s Kandivali branch, the fraud was uncovered during loan recovery proceedings, reported Lokmat Times. More, a resident of Borivali, stated that Sonali Powar owned a company named Sanskar Agro Products, which held a current account with the bank.

Business Loan Applied Offering Flat As Collateral

Three years ago, she applied for a business loan, offering her flat as collateral. The bank, after verifying the documents, sanctioned a loan of Rs 1.2 crore. Initially, she made regular repayments, but after a few installments, she stopped responding to bank notices and defaulted on payments.

When the bank began the process of seizing her flat due to non-payment, officials discovered that the property documents submitted for the loan were forged. Upon further investigation, it was revealed that her husband, Ananda Powar, had helped her commit the fraud.

Case Filed Against Ananda Powar & Sonali Powar

Following this revelation, Rakesh More filed a complaint at Samta Nagar Police Station, leading to the registration of a case under multiple sections related to fraud and forgery. A preliminary inquiry confirmed the allegations, leading the police to initiate legal action against the Powars, according to the report. Cops are actively working to locate the absconding accused, and further investigations are ongoing.