Lucknow: A suspected ₹1.56 crore bank loan fraud has come to light at the Patrakarpuram branch of Nainital Bank in Gomti Nagar, Lucknow. Following an internal investigation, an FIR has been registered against 34 individuals. The accused are alleged to have secured home loans and cash credit facilities using forged property documents, false addresses, questionable witnesses and allegedly manipulated property valuations, resulting in financial losses to the bank. Police have launched an investigation into the documents, banking records and related financial transactions.
The case was initiated on a complaint filed by Zoheb Ahmed Khan, Administrative Officer of the bank’s Patrakarpuram branch. Acting on the directions of the Deputy Commissioner of Police (East), Gomti Nagar Police registered the FIR. According to investigators, the preliminary inquiry found sufficient grounds to warrant a detailed investigation, and all relevant documents are now being verified.
According to the bank’s complaint, nine borrowers were sanctioned home loans and cash credit facilities amounting to a total of ₹1.56 crore between January 20 and May 3, 2025. Following a complaint received on July 5, 2025, the bank’s legal team initiated an internal probe, during which several alleged irregularities were detected. Investigators claim that forged property ownership documents, false residential addresses and fake witnesses were used during the loan approval process.
The FIR names not only the nine alleged borrowers but a total of 34 individuals, including persons who allegedly acted as witnesses, property valuers and other associates connected with the loan applications. Investigating agencies believe that, if the allegations are substantiated, the case could involve a well-organised banking fraud in which multiple individuals played different roles.
Those named in the FIR include Atul Prakash, Rakesh Kumar, Indu Sharma, Vijay Kumar, Mehak Fatima, Sonu Shukla, Mahfooz, Lokesh Kumar Shukla, Archana Shukla, Shikha Verma, Bharti Agrawal, Ruchi Agrawal, Kalpana Singh, Krishna Devi, Sangeeta, Baburam, Suman Mehrotra, Sanjay Kumar, Vinod Kumar, Kamlesh Verma, Amit, Anil, Deval Kumar Rastogi, Arpit Srivastava, Priyanshu Dubey, Vivek Kumar, Ashish Kumar, Ashish Singh, Narendra Singh and Satyendra Kumar, among others. Police have clarified that the allegations remain under investigation and will be examined on the basis of documentary and other evidence.
Investigators are now scrutinising the entire loan approval process, including property ownership records, valuation reports, witness statements, banking documentation and the utilisation of the loan proceeds. Authorities are also examining whether established banking procedures were followed during the sanction of the loans or whether regulatory norms were bypassed. If required, the relevant documents may be subjected to forensic examination.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said that organised banking and financial frauds frequently involve forged documentation, false identities and artificially inflated property valuations. He emphasised that banks should implement multi-layered verification of documents, obtain independent property valuations and conduct thorough background checks on loan applicants before sanctioning credit facilities. Strengthening digital verification systems and risk-based monitoring mechanisms, he added, can significantly reduce the risk of such frauds.
Police said the investigation will focus on analysing bank records, property-related documents, the role of witnesses and the complete financial trail associated with the loans. If the allegations of forgery, cheating and criminal conspiracy are established during the investigation, appropriate legal action will be taken against those found responsible. Authorities are also examining whether similar methods were used in other loan cases, which could indicate a broader pattern of organised financial fraud.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
