A case of cheating involving Rs 47.25 lakh had been registered against a person in Azad Chowk police station, police said here on Sunday. The case involves an accused who after getting Rs 47.25 lakh financed from a private finance company in the name of truck body building, refused to repay the amount, police informed.
According to the police, Rajesh Agrawal a transporter based in Fafadih area had got financed five trucks from l&T Finance Company with its office in Maruti Business Park in the city.
For getting body of trucks made, the accused had applied for taking loan of Rs 47.25 lakhs, from l& T Finance which was sanctioned in the month of October 2012, informed Sub Inspector Vindo Singh.
After taking the amount, the accused allegedly did not use the amount for the intended purpose and the company then issued a notice to Agrawal in this connection.Agrawal neither replied to the notice nor paid the installments of the loan amount, the SI told The Pioneer over phone.
later on, when company officials exerted pressure on the accused, he refused to pay back the amount while saying he had not take any loan at all, the SI informed going by the complaints lodged by the company’s officials. Meanwhile Azad Chowk police has registered a case under Section 420 of Indian Penal Code against the accused and is investigating the matter. No arrest has been made so far.