Srinagar, July 5 (NVI): The Economic Offences Wing (EOW) of the Crime Branch, Jammu and Kashmir, has filed a chargesheet against five persons for allegedly securing bank loans worth ₹60 lakh from J&K Bank by using forged revenue records and fabricated property documents, officials said on Sunday.
The chargesheet in FIR No. 05/2019 has been filed before the Chief Judicial Magistrate, Srinagar, under Sections 420, 467, 468, 471 and 120-B of the Ranbir Penal Code (RPC).
The accused have been identified as Sheikh Samiullah, Abdul Ahad Bhat, Ghulam Nabi Baqal, Mushtaq Ahmad Sofi and Sartaj Ahmad Hakeem.
According to the EOW, the case was registered following a complaint from J&K Bank alleging that the accused had fraudulently obtained a term loan of ₹30 lakh from its Zainakote branch and a cash credit facility of ₹30 lakh from its Residency Road branch in 2007 by mortgaging properties supported by forged revenue records and fake title documents.
The borrowers later defaulted on the loans. During verification, revenue authorities confirmed that the mortgage documents and revenue extracts submitted to the bank were forged, officials said.
The investigation found that the accused, allegedly led by Sheikh Samiullah, entered into a criminal conspiracy to cheat the bank and misappropriate the loan amount, they added.
The EOW has advised people to remain alert against economic fraud and report such offences to the Crime Branch.(NVI)
