Pune: Bhagini Nivedita Bank Cheated of Rs 50 Lakhs in Loan Scam

Deccan, 6th December 2023: Between 28th July 2022 and 31st October 2022, an incident of financial fraud unfolded at the Prabhat Road branch of Bhagini Nivedita Bank, where a loan of Rs 50 lakhs was obtained by pledging a house.

Subsequently, the flat was sold to an unauthorized individual using forged documents, leading to the defrauding of the bank. Deccan Police station, Pune City Police, has initiated a case in connection with this incident.

The complainants in this case are Gurbir Singh Dharamvir Singh Lamba, his wife Ramita Gurbir Singh Lamba, and Amit Ravikiran Gaikwad. Smita Kishore Deshpande, the Chief Executive Officer of the bank, filed the complaint.

According to police, Gurbir Singh and his wife had mortgaged their flat with the bank, securing a loan of Rs 50 lakhs. The transaction was officially recorded at the Sub Registrar’s Office.

Subsequently, in collusion, forged documents were fabricated. Despite the loan not being repaid to the bank, fraudulent documents, including a forged ‘Release Deed,’ were submitted to the Sub Registrar Office, falsely indicating repayment. The flat, originally mortgaged with the bank, was then sold to Amit Gaikwad, with a fraudulent deed prepared for the sale transaction.

This orchestrated financial fraud has resulted in a complaint being lodged with the Deccan Police, who have now registered a case to investigate the matter.