Kolkata, July 15 -- Kolkata Police arrested three persons from Howrah late on Tuesday night in connection with a 2018 bank fraud case.
During the overnight operation at a house on Nandalal Chatterjee Lane in Howrah, police seized around Rs 1.55 crore in cash.
The arrested persons, identified as Manas Roy, Tapas Roy and Tanmoy Roy, are directors and guarantors of a private company, M/s Iinings Ventures Pvt. Ltd., based in Dumurjala.
They allegedly obtained a loan from Punjab National Bank (PNB) for a real estate project. Police alleged that the conspiracy was carried out in association with several sister concerns, including M/s Adams Appliances Pvt. Ltd., M/s Noxx & Chef's Deck Pvt. Ltd., M/s Adamas Appliances and Electronics Pvt. Ltd., and M/s Adamas Furniture Pvt. Ltd. The accused allegedly fabricated a building sanction plan bearing No. BRC. 506, 2017-18, purportedly issued by the Howrah Municipal Corporation, and submitted it to the bank as a genuine document to secure a loan of Rs 3.90 crore.
After the loan was sanctioned, the accused allegedly diverted the funds through a network of shell companies and dummy bank accounts.
The fraud came to light after the loan account turned into a Non-Performing Asset (NPA) following repeated defaults in repayment. During verification of the loan documents, bank authorities allegedly discovered that the papers submitted to obtain the loan were forged.
Following a complaint by the bank, an FIR was registered at Hare Street Police Station on charges of forgery, cheating, criminal breach of trust and criminal conspiracy. The investigation was subsequently taken over by the Bank Fraud Section of Kolkata Police, which constituted a Special Investigation Team (SIT) to probe the case further.
Published by HT Digital Content Services with permission from Millennium Post.