The Economic Offences Wing (EOW) of Delhi Police has arrested a man for allegedly obtaining a property loan of around ₹3 crore from a non-banking financial company (NBFC) through fraudulent means. The accused has been booked for allegedly using forged documents, fake identity details and shell companies as part of a conspiracy to secure the loan and misuse the funds.
The arrested accused has been identified as 59-year-old Maneesh Kumar, a resident of Laxmi Nagar. According to police, he was apprehended from his office on July 14. A case has been registered against him at the EOW police station in New Delhi under sections 419, 420, 467, 468, 471 and 120-B of the Indian Penal Code.
The investigation began after an authorised representative of NBFC Protium Finance Ltd filed a complaint alleging that a housing loan of around ₹3 crore was fraudulently obtained for the purchase of a property located in D-Block, Anand Vihar, Delhi.
During the investigation, police found that a sale deed dated November 9, 2022, was allegedly executed using forged documents. The accused allegedly used an impersonator who posed as the legitimate owner of the property to complete the fraudulent transaction. Investigators also found that the same individual had allegedly executed two separate fraudulent sale deeds for the same property within a period of around 25 days, which were later used to obtain loans from financial institutions.
According to police, Maneesh Kumar presented himself as a genuine purchaser of the property, but his alleged role as a conspirator emerged during the investigation. He allegedly used forged title documents and false identity details to get the loan approved. Police also suspect that shell companies and firms were created to transfer and divert the loan amount through different channels.
The investigation further revealed that a deceased woman was allegedly shown as Kumar’s wife and co-applicant in the loan documents, while his actual wife is a different person. Police suspect that the false information was used to mislead the financial institution and complete the loan process.
Investigators found that Maneesh Kumar operated M/s Global Trading Company. He allegedly used firms such as M/s Global Finance Ltd and M/s Bankey Bihari Enterprises as part of the plan to obtain the loan through fraudulent documentation.
Police recovered several mobile phones, SIM cards, digital signature certificates, cheque books from multiple banks, point-of-sale (POS) machines and other important documents from the accused. The recovered material is being examined to trace financial transactions and identify the involvement of other persons linked to the alleged fraud.
Police stated that the accused is a graduate and had been working as a financier and loan facilitator in East Delhi. During the investigation, it was found that he had allegedly been changing his locations frequently to avoid arrest. Based on technical surveillance and local intelligence inputs, police tracked him down and arrested him from a rented accommodation in Laxmi Nagar.
Officials said that the investigation is still underway to identify other suspects involved in the alleged conspiracy and trace the proceeds of the fraud. Further action will be taken based on the findings of the probe.
Police have advised property owners to regularly monitor vacant properties and verify all documents carefully before entering into property transactions. Financial institutions have also been advised to conduct detailed verification of applicants and property records before approving property-backed loans to prevent such frauds.
