FIR lodged in 2007 loan fraud case at Baijnath KCC Bank

A loan fraud case has surfaced at the Kangra Central Cooperative Bank (KCC Bank) branch in Baijnath of Kangra district, with the police registering an FIR against a bank manager and two others on charges of cheating and forgery.

Confirming the development, Additional Superintendent of Police Bir Bahadur said the case pertains to a loan transaction dating back to 2007. The complainant has alleged that the loan was processed fraudulently as part of a criminal conspiracy.

The ASP said a criminal case was registered at Police Station, Bir, following directions issued by the Judicial Magistrate (First Class), Baijnath.

The FIR was lodged on the complaint of Rajesh Kumar, a resident of Kotli village under Gunehar post office in Baijnath subdivision.

The accused named in the FIR include Rajan Mehta, branch manager of KCC Bank at Chougan, Sameer Sood and Neeraj Kumar, a resident of Ustehar village in Baijnath subdivision, who reportedly stood as a guarantor in the loan transaction.

Acting on the court’s order dated February 17, the police registered an FIR on March 2 under Sections 420 (cheating), 468 (forgery for the purpose of cheating), 471 (using a forged document as genuine) and 120B (criminal conspiracy) of the Indian Penal Code at Police Station, Bir.

The ASP said documentary evidence related to the loan transaction, bank records and other relevant material would be examined during the course of the investigation. No arrests had been made at the time of filing this report.

In his complaint, filed through his counsel before the court, Rajesh Kumar alleged that he was misled into signing loan-related documents and was later made a scapegoat in what he described as a fraudulent transaction carried out to benefit a hotelier.

According to the complaint, on May 17, 2007, he was called to the bank by Sameer Sood and asked to sign certain documents. He alleged that his signatures were obtained under misleading circumstances by the then branch manager, Rajan Mehta, through Sameer Sood.

The complainant further alleged that the loan amount of Rs 3 lakh had already been disbursed on May 4, 2007 — nearly 13 days before his signatures were obtained. He claimed that the sequence of events indicated that the documents were signed later to cover up irregularities in the loan sanction process.

Rajesh Kumar also alleged that the loan was sanctioned against a piece of land valued at around Rs 44,000 at the time, which he claimed was far below the prevailing market rate. According to the complaint, the use of such low-value property as collateral pointed to irregularities and possible involvement of bank officials in the alleged fraud.

He further alleged that the transaction was carried out in connivance between the bank official and other accused to facilitate financial benefits to a third party, a hotelier.