A case of fraud and forgery has come to light in the city, involving a cunning accused individual who not only swindled a bank but also attempted to pull the wool over the eyes of the law by fabricating forged documents. In this matter, the police at Division No. 5 Police Station have registered a case against the accused, Jagdeep Singh, following an investigation initiated upon the complaint of bank official Jatin Sharma; a manhunt for the accused has now commenced.
Accused Chooses a Risky Path Instead of Repaying Bank Loan
According to the information received—specifically the statement of the complainant, Jatin Sharma—the accused, Jagdeep, had purchased a Creta car by securing a loan from ICICI Bank Limited. As per standard regulations, a vehicle remains ‘hypothecated’ to the bank—meaning it serves as collateral—until the entire loan amount is fully repaid, and it cannot be legally sold during this period. However, instead of repaying the outstanding loan amount to the bank, the accused chose a perilous course of action. He fabricated a fraudulent and forged No Objection Certificate (NOC) in the name of the bank. Using this forged document, he kept the bank in the dark and subsequently sold the vehicle to another individual. In doing so, the accused committed direct fraud against the bank, causing a financial loss amounting to lakhs of rupees.
Police Teams Conducting Raids to Apprehend the Accused
This incident appears to be part of a premeditated conspiracy. A case involving this bank fraud has been registered under various sections pertaining to forgery and cheating. The police are currently investigating to determine who else may have been involved with the accused in orchestrating this scheme, and whether he has committed similar crimes in the past. Currently, police teams are conducting raids in an effort to apprehend the accused.
