A case of fraud stands registered against a person, who has been accused of selling a JCB bought out of bank finance with the help of fake documents.
On the basis of a complaint filed by the branch manager of Canara Bank, Manipal branch, who stated that the bank has been defrauded to the extent of about Rs 14 lac, a case of fraud stands registered in Manipal police station.
Ismail, a resident of Devinagara, Parkala, has been accused of duping the bank. He had bought a JCB 3 DX vehicle on December 23, 2010 by raising a loan from Canara Bank. As the loan was not repaid till January 30, 2015, the JCB was seized by the bank. When the documents of the vehicle were verified at the office of the regional transport office, the bank officials found out that the vehicle had been sold by Ismail to a person named Nagaraj from Mysuru by creating fake documents.
The bank said that the borrower, whose liability stood at Rs 14,33,639, had created fake documents to sell the vehicle without either repaying the loan or informing the bank.
Source: daijiworld
