Eight booked for cheating bank of Rs.2.5 crore

CHANDIGARH - Eight people, including four women, were booked for taking a loan of Rs.2.5 crore (Rs.25 million) from a bank by providing fake documents, police said Saturday.

We have received a complaint against eight persons, all residents of Mohali, from the manager of Kotak Mohindra Bank in Sector-9. Police have registered a case and started its investigation, said an official of Economics Offence Wing (EOW) said.

The accused had taken a loan of Rs.2.5 crore (Rs.25 million) by submitting the registries of three plots of land in Punjab. They did not submit the instalments and during the verification the bank officials discovered that documents submitted by them were fake, he said.