Mumbai, May 26 -- Mumbai Police have registered a case against a former director of Reliance Home Finance Limited (RHFL) in connection with an alleged fraud of nearly Rs 150 crore involving Axis Bank, officials said on Tuesday.

According to Mumbai Police, the case was registered at the Cuffe Parade Police Station following a complaint filed by Axis Bank officials, who alleged that Reliance Home Finance obtained loans using forged and misleading documents.

Police said the company allegedly projected its financial position as strong and stable in order to secure loans from Axis Bank. However, officials claimed that false documents were used during the process to obtain financial assistance.

Investigators further alleged that instead of u...