BAREILLY: An alleged ₹2.25 crore loan fraud involving a mother-son duo, a loan officer of the State Bank of India (SBI), and her husband has prompted police action following a complaint by the bank’s branch manager.
According to officials, an FIR was lodged at the Baheri Police Station against four individuals — Afsana, her son Aman Hussain, SBI loan officer Sakshi Singh, and her husband Shivam Agrawal — after an internal inquiry conducted by SBI’s Baheri branch flagged discrepancies in the loan application process and fund transfers.
Firm Claimed False Dealership with Value Plus
The complaint, filed by Julie Singh, Chief Manager of SBI Baheri Branch, states that Afsana and Aman Hussain claimed to be operating a firm called Electronic Plaza. They allegedly approached the bank on March 29, 2024, and secured a loan of ₹2.25 crore by presenting forged documents that showed they had dealership rights from Value Plus, a known electronics retailer.
The bank later received an official confirmation from Value Plus clarifying that no such dealership or agency was granted to Electronic Plaza in Bareilly.
Investigators found that the loan was processed without any collateral or guarantor, which was reportedly facilitated by loan officer Sakshi Singh in alleged collusion with her husband, Shivam Agrawal.
Loan Money Redirected to Linked Accounts
A large portion of the loan, ₹1.26 crore, was transferred to an account belonging to Vishal Communication, a firm operated by Shivam Agrawal, at Baroda UP Gramin Bank on April 3, 2024. Another tranche exceeding ₹1 crore was reportedly transferred to the same account on October 15, 2024.
Bank records revealed that both Afsana and Aman Hussain were employees of Vishal Communication, raising concerns about the intention behind the loan application. The internal audit concluded that false documentation and misrepresentation were used to mislead the bank.
The Baheri Police, led by SHO Sanjay Singh Tomar, confirmed that legal proceedings have begun and further investigation is ongoing.