JAMMU, Nov 10: The Crime Branch (Economic Offences Wing), Jammu, has filed a chargesheet against a resident of Samba district in connection with an alleged Rs 7.92 lakh bank loan fraud involving forgery of a No Due Certificate (NDC) and illegal transfer of a hypothecated vehicle.
The chargesheet has been presented before the Court of Munsiff, Samba, against Rahul Sudan, son of late Vijay Sudan, resident of Dhyansar, Bari Brahmana, in connection with FIR No. 27/2022 registered at Police Station Crime Branch (EOW), Jammu, under Sections 420, 465, 467, 468 and 471 RPC.
According to the Crime Branch, the case originated from a written complaint lodged by Nikhil Singh Jamwal, Branch Manager, Canara Bank, Bari Brahmana, Samba, regarding a vehicular term loan of Rs 7.92 lakh sanctioned to the accused on June 14, 2016, for purchasing a Honda City car bearing registration number JK21C-5636. An outstanding liability of Rs 5,64,201 was subsequently established during the investigation.
Investigation conducted by Inspector Meenu Sharma revealed that the accused allegedly procured and submitted a forged No Due Certificate to the ARTO Office, Samba, facilitating the unauthorised transfer of the hypothecated vehicle to a third party without clearing the bank’s outstanding dues or obtaining a genuine No Objection Certificate from the bank.
The Crime Branch further stated that the accused was found to be involved in similar fraud cases registered earlier.
The investigation established offences under Sections 420, 465, 467, 468 and 471 RPC, following which the final chargesheet was submitted before the court for judicial determination.
Meanwhile, SSP Crime Branch EOW Jammu has urged the public to remain vigilant against financial frauds, particularly those involving property transactions, and report such cases through email at [emailprotected] or on telephone number 0191-2578901. (Agencies)