Three booked in loan fraud case

The Jind police have registered a case against three persons — identified as Gulab Singh; and Ajit Aggarwal and his wife, Bhavna Aggarwal — on the charge of misappropriating loans amounting to Rs 40 lakh from a private firm on the basis of forged documents.

In a complaint to the city police station, the complaint, Yogesh Bansal, legal adviser to Tata Motors, Chandigarh, said, on January 1, 2022, one Gulab Singh obtained a loan for a vehicle in the name of Jatin Tata Motors on Narwana Road, Jind, using forged documents.

The collective loan amount of about Rs 40 lakh, was allegedly misappropriated by the accused. Gulab Singh had reportedly taken the loan naming one Naresh Aggarwal as the guarantor — who was later found to be a non-existent entity.

Then, Ajit Aggarwal availed a vehicle loan naming Naresh Aggarwal as the guarantor. According to Bansal, neither the financed vehicles nor a person named as Naresh Aggarwal could be found.