Team Goemkarponn
MARGAO: A case involving an alleged loan fraud of ₹75 lakh has been reported in Margao, with three residents of Kundaim, Ponda, accused of allegedly obtaining credit facilities by offering a property as collateral security despite it having been previously mortgaged.
According to the complaint filed by Ritesh Verma, on behalf of Bank of Baroda, Margao, the alleged offences took place between 2014 and 2023 at the erstwhile Vijaya Bank branch in Margao, which merged with Bank of Baroda with effect from April 1, 2019.
The accused have been identified as Uday Naik, Urvashi Naik and Yuvaraj Naik, all residents of Kundaim, Ponda. They allegedly availed credit facilities amounting to ₹75,00,000 by offering a property as collateral security and creating an equitable mortgage, while representing that the first two accused were the lawful owners of the property.
The complaint further alleges that the accused concealed the fact that the property had already been mortgaged with EDC Ltd. for a loan availed by Pure Beverages and was subsequently sold at auction.
By allegedly concealing the earlier mortgage and using the same title documents, the accused are suspected of inducing the bank to sanction the loan, resulting in an alleged wrongful loss of ₹75 lakh to the bank.
Further investigation is being carried out by PSI Subhash Gaonkar of Margao Town Police Station.
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