Nagpur: Dead man's name used to secure Rs 5.65 crore bank loan
Sitabuldi police book petrol pump operator and four others for forging documents in his dead brother's name to take loans from Standard Chartered Bank
Nagpur: A bank was allegedly defrauded of Rs 5.65 crore after loans were taken using forged documents in the name of a dead man. Sitabuldi police have registered a case against petrol pump operator Nitin Punekar and four others, including his family members.
The accused are Nitin Punekar along with Devendra Punekar, Mahendra Punekar and Dharmendra Punekar, all residents of Hanuman Gali, Sitabuldi, and Nitin Kadu of Thawkar Wadi, Bhandara Road.
The Punekar brothers run a petrol pump and once had a large kerosene business. In 2022, the brothers applied for a loan at the Standard Chartered Bank branch in Civil Lines. According to sources, their brother Narendra had died in 2021. They allegedly prepared forged documents in the deceased brother's name and submitted them to the bank.
On this basis, they sought a loan of Rs 1.65 crore in the name of India Petro Chemicals and Rs 4 crore in the name of Narendra Oil Agency. They allegedly involved a bank sales employee, Nitin Kadu, in the scheme, following which the loan was disbursed to the Punekar brothers.
The bank later discovered that the loan had been taken in a dead person's name and launched an investigation, which confirmed the fraud. The bank's legal manager filed a complaint with Mumbai police, who registered a case of fraud. The case has been forwarded to Sitabuldi police station for investigation.
The Punekar brothers reportedly got wind of the case as soon as the bank's investigation began and had since been cautious. The brothers are said to be fond of travelling in luxury vehicles.
