Mumbai: Man booked for borrowing ₹ 26 Lakh loan on fake documents

A man has been booked for allegedly borrowing Rs26.24 lakh bank loan on fake documents, said the cops from the Kanjurmarg police station.

Vishal SinghUpdated: Tuesday, January 17, 2023, 02:31 AM IST
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Mumbai: A man has been booked for allegedly borrowing Rs26.24 lakh bank loan on fake documents, said the cops from the Kanjurmarg police station. Shantikumar Jain had mortgaged his house with a private bank, and took the loan in 2008. After a few months, he stopped paying the EMIs and also his cheques given to the bank bounced. In 2009, the bank filed a complaint with the Additional Chief Metropolitan Magistrate, Mulund.

Subsequently, the bank declared his loan as a non-performing asset and initiated further proceedings. According to the documents submitted by Jain, he had purchased a flat in Bhandup in 2006. But, the papers turned out to be fake when the bank sent them to its advocate and the scrutiny exposed the fraud.

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