Investigation is on, more arrests expected
Srinagar, November 02: Srinagar police arrested two fraudsters involved in disbursement of crores of rupees.
Police Station Maisuma received a complaint from Manager of Canara Bank regarding disbursement of loan worth Rs 10 Crores to 7 business units which failed to repay the loan amount.
On receipt of this information a case FIR number 40/2017 under section 420 RPC was registered and investigation was set into motion.
During investigation it surfaced that some cheaters hand in glove with the then Manager of Canara Bank dishonestly and fraudulently doctored documents to sanction loans for the business units which in reality where non existing.
Two cheaters namely Rayees Ahmad Khan son of Manzoor Ahmad Khan resident of Chanapora Housing Colony and Irfan Ahmad Darzi son of Manzoor Ahmad Darzi resident of Rose lane, Chanapora were arrested.
The investigation of the case is still going on and more arrests are expected in coming days.