Three held for cheating Punjab and Sind Bank

The UT police on Friday busted a gang of three allegedly involved in cheating Punjab and Sind Bank of Rs 20 crore. The gang of three alleged accused included Rajinder Singh Kalsi, a former manager of Punjab and Sind Bank, Sector 24 Branch, Karan Thakur, a wine contractor and resident of Sector 40 Chandigarh and Pradeep Goel, a businessman of Mundi Kharar, Mohali. The police received a complaint on November 15 and the three accused were arrested on November 16 and were produced in a local court.

The UT police received a complaint on November 15 by Kamaljit Singh, Senior Manager, Punjab and Sind Bank, Sector 24. He had reported that during the course of annual inspection conducted by a inspecting team headed by Swaran Singh, Manager Inspections, certain serious irregularities were found in a housing loan sanctioned to a Kali Ram and Kavita.

On receiving the complaint, a Special Investigation Team (SIT) was constituted. Inspector Gurmukh Singh, Station House Officer (SHO) Police Station, Sector 11, Inspector Shri Parkash, SHO, Police Station Sector 3 and Sub-Inspector (SI) Ajinder Singh, SI Jaiveer Singh and SI Harjit Singh were part of the SIT. During a thorough inspection it was found by the inspecting team that Rajinder Singh Kalsi, former branch manager of the same branch had sanctioned this loan in connivance with Karan Thakur and Pardeep Goel.

The Deputy Superintendent of Police (DSP) Anil Joshi of the Economic Offences Wing said, "These three would look for cheap properties to buy in and around Chandigarh to take a loan from the bank. Then they would find a person on whose name the loan could be taken. The property would be genuine so that the bank does not stop the loan after verification. They also bought the properties".

He added that, "The present manager of the bank was involved with the three. He would not send a notice to the revenue department of Chandigarh to put a block on selling the property against which the three had taken the loan. Eventually, the trio would sell the property they had acquired at a much lower price than quoted in the loan document".

... contd.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus