New Delhi, March 14 : The CBI has lodged an FIR against two siblings for cheating Punjab National Bank to the tune of over Rs three crore by mortgaging a sold property.
A senior CBI official said that the alleged accused were identified as Nargis Bilal and her brother Musharrat Ali.They were running the firm Vardha Construction from UP’s Rampur.
In June 2017, Nargis Bilal approached the PNB’s Ghaziabad branch for an overdraft against immovable property.
She gave personal guarantee of her brother Ali, to secure facilities in the account of Vradha Construction.The loan of Rs 3.68 crore was passed to them.
But the accused didn’t repay the loan.
The bank conducted departmental inquiries and found that they had cheated the bank.
Subsequently, to safeguard its interest, the bank sought legal opinion in respect of the mortgaged property in the said credit account.
Bank’s advocate opined that the property was an agricultural land and had already been sold out in 2013 itself by subdividing the said land.It had already been disposed of by the accused by way of executing 43 sale deeds in favour of various persons.
Thus, the accused persons defrauded and cheated the bank through forgery,” read the CBI’s FIR.
The accused had also diverted the loan and didn’t utilise it for the genuine trade transactions.They remitted the entire funds through RTGS to different firms.They withdrew whole amount within a week.Their firm was also declared NPA last year.
“The PNB filed a complaint against the accused persons.We have lodged an FIR under sections 13(2), read with sections 13(1)(d) of Prevention of Corruption Act and also added sections 120-B, 420, 467,468, 471 of the IPC in it,” said the official adding they were looking into the matter.
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