The City Co-operative Bank here has filed a criminal complaint in the Surat court against a defaulter, Mukesh Desai, and 12 others for procuring a loan of Rs 4.50 crore (Rs 45 million) from the bank and not paying the installments.
The bank also alleged that Desai had produced fake documents as mortgage.
The court has directed the Rander Police to carry out detailed investigations into the case.
Desai was one of the main accused in the Rs 44-crore (Rs 440 million) loan scam at the Suryapur Co-operative Bank and has recently completed a one-year term in jail. The City Co-operative Bank is located in the Adajan area of the city.
In his complaint, filed on Monday, Jai Krishna Mewawala, bank manager, City Co-operative Bank, stated that Satish Desai, Ishwer Meghani, Balwant Patel, Sanjiv Bhatt, Paresh Desai and Sainath Nikam had availed of a loan of Rs 75 lakh (Rs 7.5 million) each, totaling Rs 4.50 crore in February-March 2002.
As mortgage, the six had provided documents of Khushnuma Residency Building, a property located in the Ghod Dod Road, and Shubh Laxmi Apartments located in the Parle Point area of the city.
Mukesh Desai and his family members had signed as guarantors for the six loan applicants. The bank has now realised that the documents for the property provided to the bank as mortgage were not genuine.
In the initial stages, the police will have to investigate the authenticity of the documents and if at all the documents are bogus, then which official/employee of the government revenue department helped them in forging the documents.
The pay order of Rs 4.5 crore, issued by the City Cooperative Bank, was deposited in the Suryapur Cooperative Bank.
To pay the installments of the City Cooperative Bank, the six accused had taken a loan from the Suryapur Cooperative Bank. Till date only four installments of Rs 190,000 each (totaling Rs 760,000) have been paid. The total outstanding arrears along with the interest has gone up to Rs 5.16 crore (Rs 51.6 million).
