Ludhiana: Four finance firm staffers held for vehicle loan fraud
Jan 31, 2025 10:11 PM IST
Ludhiana police identified the accused as Harjinder Pal Singh from Janakpuri, Lalit Kumar from Harbanspura, Deepak Kumar from Hundal Chowk, Bhamian Road, and Pankaj Kumar from New Shivaji Nagar
The CIA staff 1 of police commissionerate busted an alleged vehicle loan scam and arrested four staffers of a finance firm, officials said.
They said the accused used to get the vehicles financed using documents of ‘random’ people.
Police identified the accused as Harjinder Pal Singh from Janakpuri, Lalit Kumar from Harbanspura, Deepak Kumar from Hundal Chowk, Bhamian Road, and Pankaj Kumar from New Shivaji Nagar.
The first-information report (FIR) was registered following a statement by one Amandeep Singh from Guru Nanak Colony. The complainant is the Punjab, Chandigarh and Haryana head of Muthoot Capital Service Limited.
Amandeep said the company deals in two-wheeler loans and the accused started the fraud a long time ago.
He claimed the fraud came to fore when the company did not receive instalment payments for the loans and initiated an inquiry.
Sub-inspector Jaspal Singh, who is investigating the case, said an FIR was registered under sections 318(4) (cheating and the dishonestly inducing delivery of property), 336(3) (forgery),338 (forgery of valuable documents), 340(2) (use of forged documents or electronic records) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS).
He said that during questioning, the police found that the accused used to get identification proof from people by lying to them and later used them to finance two-wheelers in their name.
