A former chief manager of a public sector bank and his two
associates were arrested in Delhi for allegedly misappropriating funds through
a loan fraud, police said on Wednesday
A former chief
manager of a public sector bank and his two associates were arrested in Delhi
for allegedly misappropriating funds through a loan
fraud, police said on Wednesday.
The accused have
been identified as Shailendra Kumar (63), a resident of Dwarka Sector-10, Ankit
Sangwan (29), a resident of Vikaspuri and Sunil Sarki (31), a resident of Vikas
Nagar, they said.
Police said a
complaint was made by the Punjab
National Bank alleging that one Sarki Trading Company through its
proprietor Sunil Sarki obtained a cash credit (CC) limit of Rs 2.50 crore on
the basis of false credentials and documents in 2013.
The company was
shown having the business of clothes and garments. To secure the CC limit,
forged documents of a property were mortgaged with the bank. The addresses of
the borrower and the guarantor were not traceable and the account turned into a
non-performing asset (NPA) in 2014, a senior police officer said.
During
investigation, it was revealed that Kumar, being chief manager of the
complainant bank, was well acquainted with the bank's systems, police said.
In connivance with
the accused Sangwan, Sarki and other associates, the manager got a cash credit
account opened in the name of Sarki Trading Company allegedly maintained by
Sarki.
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