The Noida police on Friday booked seven people for the same. A case has been registered and the accused have been booked under Sections 420, 467, 468, 471 and 419 of IPC, the police said. Cops are yet to arrest anybody. According to a complaint made to the police by Jain, the owner of the property in sector 17A – one of the upmarket sectors of Noida, the accused used documents of his residence complex to take the loan. Jain had first taken a loan from a city bank in 1985 to construct his house in sector 17, police said. Thereafter, when he repeatedly approached the bank for more loans, he was turned away. “This is when two men contacted him and promised him a loan to complete his building,” I P Singh, station house officer of the sector 20 police station, said.Soon the duo got the loan he needed to complete his house and thereby won the confidence of the doctor and further lured him into their trap by offering him the directorship of a company they floated. According to the complaint, Jain kept signing documents in complete faith, and did not realize that the accused were getting his signatures to apply for loans amounting to Rs 16 crore from Bank of Baroda. The accused then fled with the whole amount, the police said.
“Only three to four months ago, when Jain received a notice from the bank, did he realize that he had been duped,” said Singh. “He then complaint with us,” Singh added. The case is being investigated and the involvement of others and more details may also come up.
Further, the role of the bank, too, would be verified and checked, police officials said. “We are not ruling out the possibility of involvement of bank employees,” said the SHO. “How they sanctioned such a huge loan without thoroughly verifying the details of the mortgaged property needs to be investigated,” he said. Despite TOI’s repeated attempts, Jain remained unavailable.
