Acting on a tip-off, the trio was arrested from Noida on Tuesday, police said. (Representational)
Three people, including a woman, have been arrested for allegedly obtaining a loan of over Rs 2 crore by using forged property documents, police said on Wednesday.
Two of the accused have been identified as Rohit Bhutan and Subhash Bhutan, they said.
According to police, Rohit and the other accused, residents of Preet Vihar in east Delhi, availed a loan of Rs 2,55,60,613 from the complainant company.
"The loan was availed by the accused against creation of equitable mortgage of a property at Preet Vihar with averment being the absolute owner of the property and it is free from all the encumbrances," a senior police officer said.
"After the verification, the company disbursed the loan of Rs 2,55,60,613 to accused persons. Soon after the disbursal of the loan, the accused started defaulting in the repayment of the loan," Joint Commissioner of Police (EOW) OP Mishra said.
On default, the company conducted the physical inspection of the property and found that the property was already mortgaged to another organisation and a loan of Rs 55 lakh was taken by the accused, he said.
During investigation, it was revealed that on May 30, 2009, the accused took a loan from a finance company and mortgaged the property.
Later, on February 28, 2015, they again availed the loan from the complainant company by mortgaging the same property by creating forged documents, Mr Mishra said.
At the time of availing the loan, the accused concealed the fact that the property was already mortgaged to another financial institution, he said.
Acting on a tip-off, the trio was arrested from Noida on Tuesday, the officer added.