Srinagar: The Economic Offences Wing (EOW) Kashmir on Sunday said it has filed a chargesheet against five accused for allegedly securing Rs 60 lakh in bank loans using forged revenue records and fake property documents, following an investigation into a complaint by J&K Bank.
A spokesperson of EOW, in a statement, said the Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has filed a chargesheet in FIR No. 05/2019 under Sections 420, 467, 468, 471 and 120-B RPC before the Court of the Chief Judicial Magistrate, Srinagar, against Sheikh Samiullah, Ab. Ahad Bhat, Ghulam Nabi Baqal, Mushtaq Ahmad Sofi and Sartaj Ahmad Hakeem for allegedly securing bank loans through forged revenue records and fabricated title documents.
He said the investigation was initiated after J&K Bank lodged a complaint alleging that the accused had obtained a term loan of Rs 30 lakh from its Zainkote branch and a cash credit facility of Rs 30 lakh from its Residency Road branch in 2007 by mortgaging properties on the basis of fake documents.
“The borrowers subsequently defaulted, and verification by the revenue authorities confirmed that the mortgage documents and revenue extracts were forged. The investigation established that the accused, led by Sheikh Samiullah, acted in conspiracy to deceive the bank and misappropriate the loan amount,” the spokesperson said.
He said the general public has been advised to remain vigilant against economic fraudsters and report any such incidents to the SSP, EOW Kashmir, Crime Branch J&K. Victims of economic fraud may also submit complaints via email at ss********@**********ov.in.