Man held for obtaining home loans worth Rs 6.70 crore with forged papers

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New Delhi, Nov 18 (PTI) A man was arrested for allegedly procuring three home loans worth Rs 6.70 crore by using forged documents of a house where he was living on rent, police said on Wednesday.

The matter came to light after owner of the house approached police and lodged a complaint against the accused.

In her complaint, the woman alleged that in 2014, she had given her property at Surajmal Vihar to Sachin Sharma, his father Mange Ram Sharma and relative Rahul Sharma on rent and on its expiry in 2016, both Rahul and Sachin entered into a lease deed with her and continued to reside as tenants at her property, Joint Commissioner of Police (Economic Offences Wing) Dr OP Sharma said.

In July 2016, the complainant's husband received a call from a finance firm informing the couple that Rahul had taken a loan worth Rs 2.25 crore against the security of her property and that he is untraceable.

'She also discovered later that besides the mentioned loan, Rahul, Sachin and Mange Ram in connivance with others had also obtained a loan of Rs 2.19 crore and Rs 2.25 crore from a bank and a finance company respectively against her property in March-April 2015,' the official said.

Based on her complaint, a case was registered and during investigation, it was found that the three men had prepared forged documents of the property at Surajmal Vihar.

They had also prepared a fake death certificate in the name of Rita Babbar to procure home loans, the official added.

During investigation, police found that Sachin was operating the bank accounts of Mange Ram who had died in 2015. Sachin had withdrawn the loan amount from the bank accounts of the deceased, he said.

Sachin was arrested on Tuesday, while efforts were underway to nab Rahul, police added. PTI AMP SNE