Two women among three booked for cheating BoB over car loan in Jabalpur

Two women among three booked for cheating BoB over car loan in Jabalpur

Without repaying the loan amount, the accused sold the car to another person on the fake No Objection Certificate (NOC)

Staff ReporterUpdated: Wednesday, April 06, 2022, 06:37 PM IST
article-image
Car loan fraud | representative pic

Bhopal(Madhya Pradesh): The Economic Offences Wing has registered a case against three persons, including two women, in a loan fraud case in Jabalpur.

Two of the accused had taken a car loan of Rs 16 lakh from Bank of Baroda and the third accused was the loan guarantor, said the officials on Wednesday. The accused, without repaying the car loan, sold off the car to another person. The guarantor was liable to pay the amount if the borrower had defaulted on the loan repayment, however, he too failed.

Police inspector posted at EOW, Dinesh Joshi told media that a complaint was filed by the bank officials to the EOW. In its complaint, the bank stated that Jaishree Agarwal, a resident of Dhanwantri Nagar, Jabalpur had purchased an SUV in partnership with Amit Agarwal, on March 24,2017. The duo had taken a car loan of Rs 16 lakh from the MSME branch of the bank. Shivani Agarwal was the guarantor.

Without repaying the loan amount, the duo later sold the car to Sharad Jaiswal on the fake No Objection Certificate (NOC) which they claimed to have obtained from the Road Transport Department (RTO). When the loan instalment stopped coming, the bank declared it as

non performing asset (NPA) account and lodged a complaint with EOW.

The EOW has registered a case under section 420,467,468,471,120-B of IPC against the three accused of the case.

RECENT STORIES

MP: Kamlesh Shah, Congress MLA From Kamal Nath Home Turf Chhindwara, Joins BJP

MP: Kamlesh Shah, Congress MLA From Kamal Nath Home Turf Chhindwara, Joins BJP

Kejriwal Arrested As Union Government Wants To Weaken Opposition, Democracy, Says MP Congress Chief...

Kejriwal Arrested As Union Government Wants To Weaken Opposition, Democracy, Says MP Congress Chief...

Madhya Pradesh: CM Mohan Yadav To Participate In Decades-Old Tradition Of Rangpanchami Gair In...

Madhya Pradesh: CM Mohan Yadav To Participate In Decades-Old Tradition Of Rangpanchami Gair In...

MP Weather Update: Light Rain, Hail Storm & Strong Winds Likely In Bhopal, Ujjain & 15 More...

MP Weather Update: Light Rain, Hail Storm & Strong Winds Likely In Bhopal, Ujjain & 15 More...

MP: Youth Files Police Complaint After Transactions Of Rs 46 Crore Occur From His Bank Account In...

MP: Youth Files Police Complaint After Transactions Of Rs 46 Crore Occur From His Bank Account In...