In a shocking incident some unidentified people duped Indian Overseas Bank of Rs1.10 crore. The culprits took a loan from the bank by showing fake land registration papers. The senior Manager of the Bank lodged a compliant in the Nehru colony police station in which he alleged that Kalagaon Gujrada resident Ashwini Kala, Shilpa Kala, Mukesh Kala, and Nehru colony resident Rakesh Chand Sati deposited fake land papers and secured a commercial loan of Rs1.10 crore from the bank. The culprits took the loan by forging papers of a piece of commercial land located near IT Park on Sahastra Dhara road. The estimated cost of this property was Rs1.40 crore.
The bank got suspicious when the alleged culprits failed to deposit the regular installments of the loan. When the bank officials tried to take possession of the mortgaged property they found out that the property was owned by someone else. The bank later found that the papers of the land are fake. The Nehru colony police have registered a case and are investigation the matter.