Bangalore:
The RT Nagar branch of Bank of India has been cheated by two businessmen who submitted fake property papers to get a loan of Rs 23 lakh for business purpose.
The incident came to light when the bank officials went to check the defaulter's address, but found it to be fake. The documents produced by them to avail the loan were also found to be forged, said CB Hugar, the bank's senior branch manager in RT Nagar, in his complaint.
Hugar informed that Indira Electronics and Dhanalakshmi Rice Traders, situated in Sahakar Nagar, received a business loan by producing documents of a house in Uttarahalli worth Rs 46.26 lakh.
The bank sanctioned the loan after verifying the documents submitted the previous year. After a few months, the duo stopped paying the equated monthly installments for which the bank had sent several reminders.
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