Nation Crime 14 Aug 2022 Two bogus companies ...

Two bogus companies cheat bank after getting loans

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Aug 14, 2022, 12:07 am IST
Updated Aug 14, 2022, 12:36 am IST
Police said that Mohd Chand Pasha and Fayaz Ahmed, claiming to be directors of AFS Constructions, sought a loan of Rs 1.3 crore from the bank by submitting the documents of their firm. — DC Image
 Police said that Mohd Chand Pasha and Fayaz Ahmed, claiming to be directors of AFS Constructions, sought a loan of Rs 1.3 crore from the bank by submitting the documents of their firm. — DC Image

Hyderabad: Two companies in different cases used fake documentation to allegedly dupe the Balanagar branch of Canara Bank of Rs 2.71 crore. They took loans and failed to repay the amount. The scams came to light during a field visit by bank officials. Police suspect the role of an insider. 

Police said that Mohd Chand Pasha and Fayaz Ahmed, claiming to be directors of AFS Constructions, sought a loan of Rs 1.3 crore from the bank by submitting the documents of their firm. Bank officials later found that the firm was non-existent and the loan amount was processed based on the fake documents. 

In the second case, the bank had sanctioned Rs 1.41 crore to Tirumala Enterprises Civil Engineering company, on the basis of fake property documents submitted by one Prasad Reddy, as collateral. In this case too, officials found that the company did not exist. The Cyberabad Central Crime Station (CCS) registered two cases and is investigating.

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Location: India, Telangana, Hyderabad




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