Trader, wife cheat bank of 90L by selling mortgaged flat

Pune: The Samarth police on Thursday registered a case against a trader and his wife on the charge of cheating a private bank by selling their mortgaged flat for Rs90 lakh without bank's intimation.The bank's deputy vice-president lodged a complaint against the duo. The police registered the case under sections 316 (criminal breach of trust) and 318 (cheating) of the Bharatiya Nyaya Sanhita (BNS).The accused had taken a loan of Rs4 crore from the bank by mortgaging their four properties.An officer from the Samarth police said the trader, a resident of Earandwane, took the loan under the small agriculture business finance in 2021. He mortgaged his two flats, a godown and a shop with the bank. His wife became the guarantor for the loan."According to the complainant, the trader paid the interest on the loan until Dec 2023 and then stopped. After completing the legal process, the bank in 2024 declared their loan account as a non-performing asset (NPA)," the officer said.He said when the bank was conducting a legal audit of the trader's mortgaged properties, it was revealed that the trader had sold one of his two mortgaged flats for Rs90 lakh in Sept 2023 without informing the bank. The bank then issued a notice to the duo. "When they did not respond to the notice, the bank lodged a complaint against them," he said.

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