Mumbai: The 64-year-old businessman has been arrested for allegedly submitting a fake document to get cash credit from the bank and fail to pay Payment of Rs 2.50 Crore.
The defendant who was arrested was Romi Harishchandra Malhotra, the owner of Textile Malhotra from Delhi, has used a loan from the Central Bank of the Lamington Road India, said the officials of the banking unit from their wings were looking for their accomplices.
Malhotra has been ordered for fraud, counterfeiting and criminal conspiracy.
The bank has submitted a quarter against the owners of Malhotra Textiles and RD Enterprises and others with loans.
In 2010, Malhotra Textiles and RD Enterprises submitted property documents to the Lamington Road Bank branch to get cash credits of Rs 1.45 Crore and Rs 1.20 Crore.
A small portion – around Rs 15 Lakh – repaid at first.
In a few months, the company failed to pay for payments and his account was finally classified as ‘Non-Performing Assets’ (NPA) and two owners escaped.
The central bank knows that documents submitted forged.
“The company has submitted false documents and false information about the business and property promised for loans.
While Malhotra, Rohit Kumar and Anil Kumar are Malhotra’s textile partners, their loan guarantor is Vishal Bharti, RD Enterprises’gaurantors Ravindra Kumar Chegeam and Dilip Virchand Parmar To commit a crime by sending their fake documents related to their business, assets and mortgages to the bank.
“said a police officer.
The probe revealed that the defendant shifted the loan amount to another account.
The police said that the CBI had ordered Malhotra.