The Borivali police registered an offence of cheating and forgery after a 77-year-old trader from Borivali alleged his son has cheated him and obtained a loan of Rs 2.5 crore in his name by forging his signatures. When the alleged loan was procured, the elderly businessman was not in the town, said police.
According to the police, the fraud came to light in September this year when Hastimal Jain visited his three shops in a shopping mall in Borivali and found them closed. When he inquired with his son Pramod, 52, the latter said he is not being able to pay maintenance as a reason for the electric supply of the shops had been disconnected.
When asked further, Pramod claimed that he suffered losses in the business and also told that he had taken loan on the said property worth Rs 2.5 crore. When Hastimal checked with the bank papers, he was shocked to learn the loan was allegedly procured in Hastimal’s name by allegedly forging his signature.
According to the police, the said loan was procured in the last week of August 2019. However, at that time, Hastimal had gone to Rajasthan to attend a religious ceremony and returned only in September.
“After going through the complaint, we have registered an offence under the Indian Penal Code section for cheating and forgery, no one has been arrested in the case and our investigation is currently underway,” said an officer at the Borivali Police Station.
