Representational Image
Representational Image

Panvel City police arrested four persons for allegedly cheating banks by producing fake Kisan Vikas Patra (KVP) and National Saving Certificates (NSC) papers. They were arrested when they had come to produce fake papers at a private bank in Panvel. Police also recovered around Rs 6 crores fake documents from them.

Police said that an assistant postmaster is also involved in the racket who provided the details about the KVP and NSC.

The Panvel City police received a tip-off that four persons were coming to a private bank in Panvel to produce fake government papers to take a loan. The police laid a trap and when they came over there, they were taken into custody. Following interrogation, the police came to know that they had already cheated several banks.

Shivraj Patil, deputy commissioner of police of Zone 2 said that during investigation it was revealed that the racket used to deposit fake government papers like KVP and NSC and take a loan from banks against these papers. “They had also taken Rs 12 lakh loan from a cooperative bank in Nerul by depositing Rs 50 Lakh papers,” said Patil. He added that they had also cheated a bank in Nanded.

Patil said that they had also deposited similar fake papers at a private bank in Mahim and Kurla worth in crores. However, they had not taken a loan so far. “Their arrested prevented them from committing further cheating,” said Patil.

They were identified as Babarao Ganeshrao Chavan, 24, a resident of Nanded, Suprabhat Mallan Prasad Singh, 50, a resident of Kharghar in Navi Mumbai, Sanjay Kumar Ayodhya Prasad, 46, a resident Kharghar, and Dinesh Ranganath Upade, 39, a resident of Chembur in Mumbai.

Police seized 6 fake KVP of Indian Postal Department worth Rs. 3 lakhs, 10 fake KVP of Indian Postal Department worth Rs. 2 crores, two Kisan Vikas Patras of Indian Postal Department worth Rs. 86.5 lakh and 7 National Savings Certificates worth Rs 1.65 lakh. In addition, cars and other materials used for the were also recovered from them.

A case of cheating and forgery registered at Panvel City police under section 420, 465, 467, 468, 471, and 34 IPC.

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