Srinagar: The Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has filed a chargesheet against five accused persons for allegedly securing bank loans worth lakhs of rupees through forged revenue records and fabricated title documents. The chargesheet in FIR No. 05/2019 under Sections 420, 467, 468, 471 and 120-B RPC was produced before the Court of Chief Judicial Magistrate, Srinagar, against Sheikh Samiullah, son of Abdul Rashid Sheikh of AramporaNawakadal Srinagar; Abdul Ahad Bhat, son of Ghulam Mohiuddin Bhat of Mufti Bagh Harwan; Ghulam Nabi Baqal, son of Ghulam Rasool Baqal of Saderabal Hazratbal; Mushtaq Ahmad Sofi, son of Mohammad Yasin Sofi of HMT Zainakote; and Sartaj Ahmad Hakeem, son of Abdul Razak Hakeem of Nai Sadak Habba Kadal.
According to officials, the investigation was launched after J&K Bank filed a complaint alleging that the accused had fraudulently obtained a term loan of Rs 30 lakh from its Zainakote Branch and a cash credit facility of Rs 30 lakh from its Residency Road Branch in 2007 by mortgaging properties using fake documents. Officials said the borrowers later defaulted on repayment, following which verification conducted through revenue authorities revealed that the mortgage documents and revenue extracts submitted to the bank were forged.
The investigation established that the accused allegedly entered into a criminal conspiracy to deceive the bank and misappropriate the loan amount, officials added. Meanwhile, EOW Kashmir has advised the general public to remain cautious against economic fraudsters and report such incidents to the SSP, EOW Kashmir, Crime Branch J&K. Victims of economic fraud can also submit complaints through email at [email protected]
