A 37-year-old man was arrested by Delhi Police’s Economic Offences Wing for allegedly mortgaging already sold property using forged papers and availing credit facilities to the tune of Rs 2 crore from a bank, police said on Friday.
Accused Arun Kumar Bhardwaj alias Arun Kumar Sharma, a resident of Shahdara, runs an electronics and home appliances shop, they said.
He was arrested in a 2018 case related to a bank fraud wherein he fraudulently availed loan facility by mortgaging a property which had already been sold, police said, adding he told the bank that the property was his own and presented forged documents.
The matter came to light after the Regional Manager of Bank of Maharashtra, New Delhi, lodged a complaint that in November 2012, Arun Kumar Bhardwaj was sanctioned credit facilities of Rs 2 crore for his firm on the basis of equitable mortgage of a Shahadra-based property, which belonged to his brother-in-law Ajay Sharma. Later on, when he failed to repay the amount to the bank, the loan was declared as NPA (non-performing asset) on March 28, 2017, police said.
Additional Commissioner of Police (Economic Offences Wing) RK Singh said the bank officials came to know that the accused had also availed a loan from the Central Bank of India against the same property mortgaged to them.
It also came to the notice that the accused had already sold the property in 2011 to one Baldev Raj. Therefore, Arun Kumar Bhardwaj in connivance with his brother-in-law Ajay Kumar had availed credit facilities from the complainant bank on the basis of sold property, he said.
“During investigation, original documents relating to sanction of loan were collected from the Bank of Maharashtra and the Central Bank of India. Further, the certified copy of sale deed dated October 7, 2011, executed by Arun Kumar Bhardwaj in favour of Baldev Raj of mortgaged property was collected from Sub Registrar office,” Mr Singh said.
“These documents corroborated the version of the complainant that the property was sold to Baldev Raj prior to availing of the cash credit facility from the complainant bank by mortgagor Ajay Sharma.
“Further scrutiny of the bank statements of the alleged firm showed that the accused, Arun Kumar Bhardwaj, in connivance with his brother in law had fraudulently siphoned off the loan amount for personal use,” he said.
Accused Arun Kumar Bhardwaj was arrested on Thursday was taken into police remand to recover the cheated amount, the police officer said.
His interrogation revealed that co-accused Ajay Kumar is already lodged in Mandoli Jail in connection with a murder case, he said.