Loan Fraud in Mumbai: Couple Dupes Reputed Bank of INR 1.2 Crore After Submitting Forged Documents To Secure Business Loan, Booked After Fraud Busted

Mumbai, March 31: Mumbai’s Samta Nagar police recently booked a woman and her husband for allegedly defrauding a bank of INR 1.2 crore. The couple identified as Ananda Powar and Sonali Powar reportedly duped a bank by submitting forged documents to secure a loan. While both accused are at large, the police have launched a manhunt to track them. The incident came to light after the bank’s official lodged a complaint with the police.

In his complaint, Rakesh More, a senior official at a reputed bank’s Kandivali branch, said that the fraud was discovered during loan recovery proceedings. According to a report in Lokmat Times, More stated that Sonali Powar owned a company named Sanskar Agro Products, which held a current account with the bank’s branch in Kandivali. Digital Arrest Scam in Mumbai: Scammers Put Elderly Woman Under ‘Digital Arrest’ for Nearly 3 Months, Dupe Her of INR 20.25 Crore in Fraud Linked to Aadhaar Card Misuse Threat.

Three years ago, Sonali applied for a business loan and offered her flat as collateral. After verifying all the documents, the bank sanctioned a loan of INR 1.2 crore. The complainant said that in the beginning, Sonali paid EMI’s regularly but stopped responding to the bank’s notices and defaulted on payments after a few installments. As she defaulted on loan repayment, the bank began the process of seizing her flat.

During the process, officials learned that the property documents submitted by Sonai for the INR 1.2 crore loan were forged. Further investigation revealed that Sonali’s husband, Aanda Powar, helped her commit the fraud. Following the discovery, Rakesh More lodged a complaint against the husband-wife duo at Samta Nagar Police Station. What Is Online Insurance Scam? Know How To Stay Safe as Mumbai Woman Loses INR 1 Lakh to Fraudster Posing As SBI Life Official.

The duo has been booked under multiple sections related to fraud and forgery. Meanwhile, a preliminary inquiry confirmed the allegations, following which the police initiated legal action against the couple. Further investigations in connection with the loan fraud are underway.

(The above story first appeared on Today News 24 on Mar 31, 2025 01:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).