CID Arrests Three Over ₹40 Lakh Bank Loan Fraud Using Fake Documents
The Assam CID has arrested three persons for allegedly fraudulently obtaining and misappropriating nearly ₹40 lakh in bank loans using forged documents for vehicle purchases.
The arrested accused have been identified as Ramen Saikia alias Jan Saikia, his wife Juri Mahanta Saikia, and their son Samudrajyoti Kashyap.
According to the CID investigation, the accused allegedly submitted forged documents to obtain loans under the MSME Vehicle Scheme of Canara Bank. The investigation was initiated based on an FIR lodged by officials of Canara Bank’s Ulubari branch.
As per the allegations, an ₹8 lakh vehicle loan was sanctioned in the name of Jan Saikia. In addition, loans totalling ₹32 lakh were allegedly obtained in the names of four other individuals using forged documents.
The CID investigation has reportedly revealed irregularities involving loans from five Canara Bank branches.
The accused allegedly submitted fake quotations, Registration Certificates (RCs) and insurance documents while applying for the loans. The alleged fraud came to light after the loans turned into Non-Performing Assets (NPAs) and the bank authorities began scrutinising the accounts and documents.
According to the CID, the main accused, Jan Saikia, was arrested from his residence on October 6. The names of Juri Mahanta Saikia, Madhuporna Choudhury, Lenin Rabha and Samudrajyoti Kashyap have also surfaced in connection with the alleged loan fraud.
The CID is now probing the alleged network or nexus behind the loan scam. Further investigation is underway, and the involvement of more people is likely to emerge as the probe progresses.
