Owner of pvt firm under police radar for bank fraud

New Delhi: An assistant general manager from the private bank had accused a person of defrauding the bank. The Economic Offences Wing (EOW) of Delhi Police, after registering a case, has started their investigation.

According to police, the complainant in the case told them that the suspect committed fraud by submitting forged documents for sanction of various credit facilities in favour of his private company situated in Faridabad.

"The suspect had approached his bank for sanction of credit facilities. Accordingly, various loan facilities were sanctioned to suspect company," the complainant told the police.

Police further added that later it came to the knowledge of the bank that the suspect named Manmohan Singh had submitted forged documents to the bank and induced the bank for sanction of loan facilities. Singh also manipulated balance sheets of his company for the financial year 2009, 2010 and 2011 with the intention to defraud the bank.

The complainant further told the investigating agency that Singh had also filed forged and fabricated VAT return with the bank.

"The suspect in the case fraudulently and dishonestly induced the bank to sanction credit facilities and thereby has defrauded the bank to the extent of Rs 351.31 lakh.

A case under sections 420,468 and 471 of IPC has been registered at EOW police station.