Man arrested for obtaining home loans worth Rs 6.7 crore with fake papers

A man has been arrested for allegedly procuring three home loans worth Rs 6.70 crore by impersonating as someone else and using forged documents, police said on Sunday.

The accused, Sunil Anand, was arrested on Friday. He impersonated as one Rahul Sharma and forged documents to obtain the loans, they said.

The matter came to light after owner of the house Rita Babbar lodged a police complaint against the accused.

In her complaint, the woman alleged that in 2014, she had given her property at Surajmal Vihar in east Delhi to Sachin Sharma, his father Mange Ram Sharma and relative Rahul Sharma on rent.

“After the rent agreement expired in 2016, both Rahul and Sachin entered into a lease deed with Babbar and continued to reside as tenants at the latter’s property,” Joint Commissioner of Police (Economic Offences Wing) O P Sharma said.

In July 2016, the complainant's husband received a call from a finance firm informing them that Rahul had taken a loan worth Rs 2.25 crore against the security of their property and that he was untraceable.

"Babbar also discovered later that besides the mentioned loan, Rahul, Sachin and Mange Ram in connivance with others also obtained a loan of Rs 2.19 crore and Rs 2.25 crore from a bank and a finance company, respectively against her property in March-April 2015," the officer said.

During investigation, it was found that the three men had prepared forged documents of the property at Surajmal Vihar. They had also prepared a fake death certificate in the name of Babbar to procure the home loans, he added.

According to police, Mange Ram died in 2015, while his son Sachin was arrested earlier this month in connection with the case.

"During investigation, it emerged that Sunil Anand impersonated himself as Rahul Sharma, the younger son of deceased Mange Ram Sharma and obtained the loans,” Sharma added.