Srinagar, July 5 (KNS): The Economic Offences Wing (EOW) of the Crime Branch, Jammu and Kashmir Police, has filed a chargesheet against five Srinagar residents for allegedly defrauding Jammu and Kashmir Bank to the tune of ?60 lakh by using forged revenue documents to secure loans, officials said on Sunday.
The chargesheet was presented before the Chief Judicial Magistrate Court in Srinagar in connection with FIR No. 05/2019, registered under relevant sections of the Ranbir Penal Code (RPC) including 420 (cheating), 467 (forgery), 468 (forgery for purpose of cheating), 471 (using forged document as genuine), and 120-B (criminal conspiracy).
Those named in the chargesheet include Sheikh Samiullah, resident of Arampora Nawakadal; Ab. Ahad Bhat of Mufti Bagh Harwan; Ghulam Nabi Baqal of Saderabal A Hazratbal; Mushtaq Ahmad Sofi of HMT Zainkote; and Sartaj Ahmad Hakeem of Nai Sadak Habba Kadal – all from the summer capital.
According to the EOW, the case originated from a complaint lodged by J&K Bank, which alleged that the accused had fraudulently obtained a term loan of ?
Click Here To Follow Our WhatsApp Channel30 lakh from its Zainkote Branch and a cash credit facility of another ?30 lakh from its Residency Road Branch in 2007. The loans were purportedly secured by mortgaging properties based on fake revenue records and fabricated title documents.
Following the borrowers' default, verification by revenue authorities confirmed that the mortgage documents and revenue extracts submitted were forged, the EOW stated.
The investigation established that the prime accused, Sheikh Samiullah, in connivance with the other accused, conspired to deceive the bank and misappropriated the loan amount, officials added.
The EOW has urged the general public to remain vigilant against economic fraudsters and report any such incidents to the SSP, EOW Kashmir, Crime Branch J&K. Victims can also submit complaints via email at sspeow-kmr@jkpolice.gov.in. Further proceedings in the matter are pending before the court. (KNS)