Mumbai: Business Partners Dupe Bank of ₹1.2 Crore Using Fake Property Documents, Case Registered

The Samta Nagar police have registered a case against two businesspersons for allegedly defrauding a bank of Rs1.2 crore by submitting fake documents for a flat to secure a loan. The accused have been identified as Ananda Powar and Sonali Powar, who are currently absconding. Police have launched a manhunt to track them down.

According to the complaint filed by Rakesh More, a senior official at a reputed bank's Kandivali branch, the fraud came to light during loan recovery proceedings. More, a resident of Borivali, stated that Sonali Powar owned a company named "Sanskar Agro Products," which maintained a current account with the bank. Three years ago, she had applied for a business loan and submitted documents of her flat as collateral. After verifying these documents, the bank sanctioned a loan of Rs1.2 crore.

Initially, Sonali Powar repaid a few installments, but she later defaulted on payments. Despite repeated notices from the bank, she failed to respond. Consequently, the bank initiated action to seize her flat. However, during the process, bank officials discovered that the documents she had submitted were forged. Further investigation revealed that Ananda Powar had assisted her in this fraudulent act.

Following the revelation, Rakesh More lodged a complaint at Samta Nagar Police Station. After a preliminary inquiry, the police registered a case against Ananda Powar and Sonali Powar under various sections of fraud and forgery.

The police are currently searching for the accused, and further investigations are underway.