A 39-year-old metal trader was arrested for allegedly cheating a nationalised bank of around R30 crore by obtaining bank loans using forged property documents, police said on Tuesday. Jain allegedly submitted forged property papers for the loan. “Jain managed to get a credit limit of R6 crore from the bank by submitting forged documents of another property in Pitampura. He also managed to obtain credit limit of another R11 crore against a property in Model Town. As on date, Jain has duped the bank of around R30 crore,” said Ranjan, adding Jain supplies metal to various private companies.

Source: Hindustan Times July 23, 2019 17:05 UTC