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New Delhi, Dec 17 The Delhi Police's Economic Offences Wing has arrested one person for creating a forged property chain with the intention to avail loans from financial institutions by mortgaging same property multiple times, an official said on Friday.According to the official, a Deewan Housing Finance Corporation Ltd representative reported that Ravinder and his son Saurav had taken two loans for over Rs 2 crore (Rs 2,27,75,182) in February 2015 from the DHFL against the property located at Punjabi Bagh are in the city, paid only a few EMIs and subsequently, defaulted.When the DHFL checked the mortgaged property, they found that Jasbir Singh Matta was residing there since 2004 and he was also having the property chain of the said property.Ravinder Kumar had produced a different chain of property papers by which he has shown himself as owner of the Property in Question (PIQ) by purchasing it in 2015 from Maheshwar Sharma."During the probe, it was found that there were two sets of property documents (separate chains) of the said property. One chain was provided by the present occupant i.e. Matta, and other chains were submitted by Ravinder Kumar to the DHFL for securing a home loan," the official said.During the course of investigation, documents were obtained from the authorities and it was found that the accused filed a forged parallel chain for securing the loan from the DHFL.Reply received from civic agencies revealed that Matta had the ownership over the PIQ.Ravinder Kumar and his son were earlier arrested during investigation of the case and were out on bail.Now, Sharma, who created a false property chain, in connivance with the accused, has also been arrested in this case. The accused persons used to avail loans from different financial institutions by remortagaging properties.Multiple times they would create a forged chain of property and hatch a conspiracy to avail loans by way of remortgaging the same property many times."Till now they have availed loans for a total amount of more than Rs 6 crore by remortgaging the same property in Punjab National Bank/Union Bank of India and DHFL, among others," said the police.The official said that they are making efforts to find the remaining accused persons in the case.Further, the role of other external agencies is also being probed to unearth the conspiracy hatched by accused persons, he added.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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