The Delhi Police has arrested a 51-year-old man for allegedly forging documents to mortgage the same property with six nationalised banks and cheating them of Rs 7 crore, officials said on Friday. Rajiv Rathee was nabbed from Gurgaon by the Economic Offences wing of the Delhi Police after it received complaints against him from two banks in March last year, they said. Additional Commissioner of Police (Economic Offences Wing) R K Singh said in their complaints, Ratnakar Bank Ltd (RBL) and Bank of Maharashtra alleged that Rathee approached them to avail a home loan and mortgaged a Gurgaon-based property. After verification and due diligence, the banks sanctioned the loan to him on the same property at different intervals of time, they said in the complaint.
Singh said RBL bank had sanctioned Rs 2.50 crores while Bank of Maharashtra had approved Rs 1.30 crores to the applicant. However, when Rathee failed to maintain financial discipline, the banks started the process of the property's possession and also gave out an advertisement in newspapers, the officer said. But both the banks later got to know from Allahabad bank that the same property had also been mortgaged with them, Singh said. "After preliminary enquiry, a case was registered and during investigation, it was revealed that Rathee had opened a firm named Shagun Enterprises at Shahdara Industrial Area in 2013 and taken an Iron tap factory on rent. "He mortgaged his paternal property in Gurgaon with six banks and cheated over Rs 7 crores," said Singh.
Police said Rathee had acquired his parental property in Gurgaon. He along with other co-accused opened a firm named Shagun Enterprises just for taking loan with the intention to cheat the banks. The accused took the factory on rent just to show to the bank officials during their visit and managed to get the credit for it, the police said. "He prepared same set of documents of the same property and applied for loan at different banks. After getting the loan, he fled and was absconding till date. However, he was apprehended from Gurgaon on the basis of technical investigation and was arrested," the officer said. Police said Rathee is being interrogated to probe the involvement of other co-accused and bank officials if any.
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