A two-bedroom flat worth ₹ 2 crore on Goregaon-Mulund Link Road has been attached under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI) after an autorickshaw driver was arrested by the Bhandup police for allegedly cheating people in a Ponzi scheme, reports from Times of India stated.
The court commissioner seized the flat on Monday.
The Punjab National Bank filed a complaint alleging that Haroon Sattar Shaikh, his wife Nilofar Shaikh, and another woman Halima Shaikh obtained a ₹ 1.8 crore home loan from the bank in 2019.
The borrowers failed to repay the financial assistance as agreed, and their account was designated as a non-performing asset (NPA) in 2020, said M R A Shaikh, additional chief metropolitan magistrate Esplanade.
The magistrate further stated that it was difficult to compehend how the bank could grant such a large loan to an autorickshaw driver.
The court also ordered that a fee of Rs 10,000 be paid to the court commissioner, as well as police and police protection.
