Two booked for duping loan agency, private sector bank of over Rs 3 crore

Thane, Jul 2 (PTI) Police have registered a case against two men for allegedly defrauding a loan agency and a leading private sector bank to the tune of Rs 3.26 crore, an official said on Tuesday.

The accused have been identified as Sagar Suresh Sonawane and Rajesh Shette, he said.

"It was between October 2021 and December 2023, Sonawane, an employee of a loan providing agency, manipulated the loan application process and together with Shette and their accomplices, he allegedly submitted false information to secure loan from the bank. After getting the money, he did not repay the loan, that resulted in a loss of Rs 3.26 crore to the loan agency as well as the bank," he said.

The authorities are conducting a thorough investigation to apprehend all involved parties and recover the misappropriated funds.

An FIR was registered at the Naupada police station on June 30 and they are booked on the charge of criminal breach of trust, cheating, forgery, and others. PTI COR NP