India, Aug. 8 -- A fraud amounting to Rs.11.47 crore has come to light at the Fergusson College Road branch of a prominent private bank. Police have filed a complaint against the accused identified as Manik Bihani and Satish Bhutada, partners of firm M/s Rohit Service Station, and Rohit Bihani, who stood as guarantor and mortgagor in the loan arrangement.

According to the complaint filed by Kaushik Suresh Patil, a senior official of the bank, with the Pune Economic Offences Wing, the accused took a loan of over Rs.5 crore from the bank. However, despite the loan and mortgage agreement, the mortgaged property was allegedly used again to secure another loan from a co-operative bank without the consent of the first bank and based on a forge...