CB arrests two bizman brosfor Rs 13 Cr fraud

Sold already mortgaged land for Rs 26 Crore

JAMMU: Two renowned businessmen of the state were today arrested by the Crime Branch Jammu for duping another businessman of Rs 13 Crore by selling him an already mortgaged piece of prime land at Kunjwani.

The duo brothers--ShailanderGhulati and Sandeep Ghulati, owners of National Garage Motors were arrested by the investigation agency after lodging a case against them vide FIR Number 36/2018 under section 420,120 B, RPC.

Official sources said that the Ghulatis had sold the already mortgaged piece of prime land at Kunjwani to a Gandhi Nagar based businessman.

“To sell the 26 kanal land at Kunjwani, Rs 26 Crore price was fixed, out of which the duo took Rs 13 Crore from the victim businessman namely Navneet Mahajan in advance,” said Crime Branch officials, adding the deal was struck in the year 2015.

Official sources said that the victim businessman received a shock after he learnt that the piece of land he was buying from Ghulatis was already mortgaged with the Syndicate Bank.


“The victim then made his way to the bank from where he was told that the Ghulati brothers had taken a loan of Rs 26 Crore against the land at Kunjwani and failed to repay it.

“He was told that the loan amount has reached Rs 30 Crore including interest,” said official sources.
After realising he was duped, the victim businessman demanded his money back from Ghulatis, who didn’t entertain him.

He later lodged a complaint against them with the Crime Branch Jammu which during investigation found that the duo brothers had duped Rs 13 Crore from the complainant.