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Feb 05, 2013 at 12:55pm IST

Mumbai: Two dupe bank of Rs 1.3 crore on the pretext of taking car loan, booked

Thane: A man hunt has been launched for two men who allegedly duped the all women Shatabdi Mahila Sahakari Bank here to a tune of Rs 1.30 crore on the pretext of taking loans for buying 27 cars, police said on February 5.

The accused - Joncy Koshey and Mukund Mishra - had from November 2011 till date taken loans worth Rs 1.30 crore from the Naupada branch of the bank in Thane for purchase of 27 cars, assistant police inspector Ashok Kadlag said.

For taking the loan, they had presented RC books and requisite documents, which were verified by the bank and the loan amount was disbursed.

Mumbai: Two booked for duping bank of Rs 1.30 crore

The 2 stopped paying installments after making regular repayment of loan installments, which made bank suspicious.

While the duo made regular repayment of loan installments for a couple of months, they stopped paying after that, which made the bank suspicious about them. A thorough probe then revealed that the documents presented by the duo to obtain the loan were fake, police said.

Subsequently, the bank lodged a complaint with Naupada police who on February 4 night booked the accused under sections 420 (cheating), 467 (forgery of valuable security), 468 (forgery for purpose of cheating) and others of the IPC and launched a search to nab them, police added.