Meerut: A woman has been charged after allegedly setting up a bogus firm in Meerut to secure a ₹55 lakh loan from the State Bank of India, before disappearing without a trace. The loan was obtained through SBI’s Bhoodhbaral branch using fabricated company documents. Despite the bank’s discovery of the fraud, it took more than four years to file a formal complaint, prompted only after the matter reached court. Police have now registered a case and launched a search for the accused.
Fake Firm, Real Fraud
The woman, identified as Poonam Garg, reportedly operated a fake company named “Messrs Simran Enterprises” in Meerut’s Major Dhyan Chand Nagar. In February 2022, she obtained ₹50 lakh as a cash credit limit along with a ₹5.4 lakh term loan from SBI by submitting forged documents purporting to validate the firm’s existence and credentials. After a few years, when the account became irregular, the bank officials reached the firm’s address and found it locked and the firm’s board missing. After this, when the officials reached Poonam Garg’s home address, they found it locked as well. On enquiring around, they found out that she had sold the house and left from there. After this, the officials complained to the Partapur police station, but no action was taken. The complaint was also sent to the SSP by post, but there was no hearing on that either. After this, the bank officials filed a case in the court. The police registered a case against the accused on the court’s order. Shockingly, it took over four years for the bank to escalate the matter to authorities only after filing a court petition did the police register an FIR.
FCRF Launches India’s Premier Certified Data Protection Officer Program Aligned with DPDP Act
Investigation Underway as Police Hunt Suspect
The bank’s branch manager has filed the FIR after court direction, and now police have formal charges in place. The allegations include cheating and breach of trust under legal sections targeting fraud. Authorities have formed a special investigative team to track down the accused. With the suspect at large, efforts are ongoing to piece together the loans’ financial trail and uncover any accomplices. This case underscores how deceptive documentation and procedural delays can enable large-scale fraud, highlighting the need for stricter verification and faster action in financial institutions.