Industrial development fund, Finance company

Aurangabad, Feb 20:A Finance Company was duped by taking loan of Rs 31,65,805 on the basis of forged documents. The Kranti Chowk police have booked three persons including the loan applicant and two employees of the company.The accused have been identified as applicant Sarfraz Siraz Sidddique (Chintamani Colony, Samtanagar), employees Vishal Raosaheb Jadhav and Bhushan Devidasrao Baviskar.Police said, complainant, Ganesh Jairam Chaudhary runs a private finance company at Adalat Road area. The company verified the information of the loan applicants from a third party. Siddiqui had applied for loan in the company and his eligibility report for taking the loan was negative. However, the local officers Vishal Jadhav and Bhushan Baviskar hide this information from the loan sanction officer of the company and presented forged sanction letter to the company. A loan of Rs 31,65,803 was sanctioned to Siddique. He had to repay the loan in the monthly installment of Rs 27,626. However, Siddique did not pay the installments. The company started search and found that the residential address of Siddique was false. In further investigation, it was found that Jadhav and Baviskar had duped the company. Chaudhary then lodged a complaint in this regard at the Kranti Chowk police station.

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