Gurugram: Case registered against 2 for fraudulently taking loan of crores of rupees. Gurgaon News – Times of India

Gurugram: Police have registered a case against two directors of a luxury car showroom here for fraudulently taking loans of crores of rupees by using three luxury cars.
According to the complaint filed by Jibu Joseph, Branch Manager, The South Indian Bank Limited, Gurgaon Sector 23, Genica Cars India Pvt. Ltd., located at Golf Course Road and an authorized dealer of Audi cars enjoying three car loans from our branch under one banking arrangement.
All three loans were disbursed in 2017. Rashpal Singh Tod and Mandhir Singh, directors of the borrower company had joined the documents as guarantors of all three loans. However, the account was classified as a non-performing asset (NPA) in 2018.
“Examining the list of entities uploaded in the Central Fraud Registry on further enquiry” [CFR] For the month of September 2018, we observed that HDFC Bank had classified M/s Genica Cars India Pvt. Ltd. as fraud,” read the complaint
“Accordingly, an inquiry was conducted at the branch, it is evident that M/s Genica Cars India Pvt Ltd obtained three car loans from our branch for purchase of three demo cars, but the said cars are not available for verification,” it said. Told.
However, data provided in the vehicle portal of the Ministry of Road Transport and Highways showed that three cars were still owned by the borrower company, with the hypothecation marked in favor of HDFC Bank, stating that Audi India has confirmed That they have not sold the vehicle to the borrower with the chassis numbers and engine numbers mentioned in the Certificate of Registration (RC).
“It is thus observed that after taking three car loans, the borrower registered the vehicles with the RTO office by providing fake chassis numbers and engine numbers with the intention of defrauding the bank,” the complaint said.
Following the complaint, FIR against Duo car dealers under sections 420 (cheating), 467 (forgery of valuable security), 468 (forgery with intent to defraud), 471 (use of forged document), 120-B (criminal conspiracy) has been recorded. IPC at Palam Vihar police station.
Police said that investigation is on and the accused will be nabbed soon.