MARGAO
The Margao police have registered an FIR against three persons for allegedly cheating a nationalised bank by inducing it to sanction a loan of Rs 75 lakh.
In a complaint, a representative of the bank alleged that the trio obtained credit facilities of Rs 75 lakh by offering a property as collateral security and creating an equitable mortgage, claiming that accused Nos 1 and 2 were its lawful owners.
It is further alleged that the accused dishonestly concealed the fact that the property had already been mortgaged with EDC Ltd for a loan availed of by a company and was subsequently sold at auction.
By concealing the existing charge and using the same title documents, the accused allegedly induced the bank to sanction the loan, thereby causing a wrongful loss of Rs 75 lakh to the bank.
A case under Sections 403, 419, 420, 467, 468, 471 and 422 read with Section 34 of the Indian Penal Code (IPC) has been registered against the three accused.
