JAMMU, June 26: The Special Crime Wing Crime Branch Jammu has filed a charge-sheet in connection with FIR No. 22/2023, registered under Sections 420, 465, 468, 471, and 120-B of the Ranbir Penal Code (RPC) at Police Station Special Crime Wing, Jammu.
The chargesheet pertains to a case of bank loan fraud committed by the prime accused, Jatinder Singh Sodhi, son of Gurdeep Singh, resident of 174 Kanispora, P.O. Khwajbagh, Baramulla, Kashmir & Charge-sheet was formally presented before the Court of Sub-Judge, Jammu.
The case originated from a written complaint submitted by the Branch Manager of Punjab National Bank, Canal Road Branch, Jammu. The complainant alleged that in 2016, the accused had opened a savings account at the branch, introduced by his real sister who was already maintaining an account there. Subsequently, the accused applied for a term loan of Rs 9 lakh to establish a business unit under the name M/S Three Brackets IT Tech, located at 720 Bemina, Srinagar, claiming to deal in the installation of RFID machines in educational institutions adding that accordingly, a Preliminary Verification was conducted.
During the process of PV, the accused was found to have submitted a set of documents including a PAN card and a driving license as identity proof, and duly executed the loan agreement. The loan was sanctioned with a repayment schedule of 84 equal monthly instalments of Rs 11,069.
However, the account soon turned into a Non-Performing Asset due to persistent non-repayment.
On the basis of the findings of the PV, above mentioned case was registered. During investigation, official added, it was conclusively established that the driving license submitted by the accused was forged, and that the loan was obtained through fraudulent means.
This resulted in a wrongful financial loss to the bank and a corresponding illegal gain to the accused.
After completing the investigation, the offences under Sections 420 (cheating), 465 (forgery), 468 (forgery for purpose of cheating), 471 (use of forged documents), and 120-B RPC (criminal conspiracy) were fully substantiated.
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