The Uttar Pradesh Economic Offences Wing (EOW) has arrested two absconding accused in connection with an alleged ₹25 lakh forged loan fraud involving Allahabad Bank’s Kaiserbagh branch in Lucknow. Investigators allege the accused obtained a cash credit loan by using forged property documents and impersonation, causing losses to both the bank and the property owner.
Loan Allegedly Secured Using Missing Property Documents
According to an official statement, the case traces back to 2018 when the original sale deed of a residential property owned by Manju Devi at 7A/92, Vrindavan Yojana on Rae Bareli Road in Lucknow was reportedly lost.
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Investigators allege that the accused exploited the missing document and used the property papers without the owner’s knowledge or consent to secure a cash credit loan of ₹25 lakh from Allahabad Bank’s Kaiserbagh branch. After obtaining the loan, they allegedly failed to repay the amount and misappropriated the funds.
Case Reached EOW After High Court Direction
Following a complaint, an FIR was registered at Bachhrawan police station in Rae Bareli district in 2020 under provisions relating to cheating by impersonation, cheating, forgery of valuable security, forgery for the purpose of cheating, and using forged documents as genuine.
The investigation was subsequently transferred to the Economic Offences Wing on the directions of the Allahabad High Court.
During the probe, EOW officials said they uncovered evidence suggesting that the accused had acted in conspiracy and used forged documents and false representations to obtain the loan. Based on these findings, an additional charge relating to criminal conspiracy was added to the case. Investigators concluded that both accused were prima facie responsible for fraudulently securing the loan and siphoning off the funds.
Accused Tracked After Long Evasion
Officials said repeated efforts had been made to apprehend the accused, but both allegedly remained absconding for an extended period and frequently changed locations to avoid arrest.
Acting on specific intelligence, EOW teams arrested Arvind Singh and Mohammad Salim from separate locations in Lucknow on June 9. Arvind Singh, a resident of Rajajipuram under the Talkatora police station area, was arrested from Alambagh. Mohammad Salim, a resident near Kala Pahad Masjid in Rajajipuram under the Thakurganj police station area, was arrested from Thakurganj.
The EOW said legal proceedings are continuing under the relevant sections invoked in the case, and investigators are also examining whether any other individuals played a role in facilitating the alleged fraudulent loan transaction. The arrests mark a significant development in the long-pending case involving alleged forgery, impersonation and misuse of property documents to obtain a bank loan.
