Srinagar, Jul 5: The Economic Offences Wing (EOW) Kashmir of the Crime Branch has filed a chargesheet against five persons for allegedly securing bank loans worth ₹60 lakh using forged revenue records and fabricated property documents, officials said on Saturday.
The chargesheet was filed before the Chief Judicial Magistrate, Srinagar, in connection with FIR No. 05/2019 registered under Sections 420, 467, 468, 471 and 120-B of the Ranbir Penal Code (RPC).
Those chargesheeted have been identified as Sheikh Samiullah of Arampora Nawakadal, Abdul Ahad Bhat of Mufti Bagh Harwan, Ghulam Nabi Baqal of Saderabal Hazratbal, Mushtaq Ahmad Sofi of HMT Zainkote and Sartaj Ahmad Hakeem of Nai Sadak Habba Kadal, all residents of Srinagar.
According to the Crime Branch, the case was registered following a complaint from J&K Bank alleging that the accused had fraudulently obtained a term loan of ₹30 lakh from its Zainkote Branch and a cash credit facility of another ₹30 lakh from its Residency Road Branch in 2007 by mortgaging immovable properties on the strength of forged revenue records and fake title documents.
The investigation found that after availing the loans, the borrowers defaulted on repayment. Verification by the Revenue Department later confirmed that the mortgage deeds, revenue extracts and ownership documents submitted to the bank were forged and fabricated.
Investigators further alleged that the accused, led by Sheikh Samiullah, entered into a criminal conspiracy to cheat the bank by using forged documents to secure the loans and misappropriate the sanctioned amount, causing substantial financial loss to the bank.
Following completion of the investigation, the EOW Kashmir filed the chargesheet before the competent court for trial against all five accused.
The Crime Branch has also appealed to the public to remain vigilant against economic and financial frauds and report such offences to the Senior Superintendent of Police, Economic Offences Wing, Kashmir. Victims of financial fraud can also lodge complaints through the EOW’s official email for legal action.
