Jammu, Nov 11: The Economic Offences Wing (EOW) of Crime Branch Jammu has presented a detailed chargesheet before the Court of Munsiff Samba against an individual accused of fabricating forged banking clearance certificates to illegally transfer a hypothecated vehicle and defraud Canara Bank of over five lakh rupees.
The chargesheet was produced in case FIR No. 27/2022 against Rahul Sudan, a resident of Dhyansar in the Bari Brahmana industrial belt of Samba district, for committing offenses under Sections 420 (cheating), 465, 467, 468 (forgery of valuable security), and 471 (using a forged document as genuine) of the Ranbir Penal Code (RPC).
The criminal inquiry was initiated upon a written complaint submitted by Nikhil Singh Jamwal, then Branch Manager of Canara Bank, Bari Brahmana. According to banking records, a vehicular term loan of Rs 7.92 lakh was formally sanctioned and disbursed to the accused on June 14, 2016, for the procurement of a Honda City passenger sedan bearing registration number JK21C-5636. However, the borrower subsequently defaulted on scheduled repayments, leaving an unpaid financial liability of Rs 5,64,201.
A meticulous investigation conducted by Inspector Meenu Sharma uncovered that Sudan had fraudulently created and authenticated a counterfeit No Due Certificate (NDC) purportedly issued by the lending bank. Using this fabricated documentation, the accused deceived the Assistant Regional Transport Office (ARTO) in Samba into canceling the statutory bank hypothecation endorsement, subsequently transferring ownership of the vehicle to an unsuspecting third party without liquidating the outstanding bank dues.
Investigators further established that Sudan is a chronic financial offender with previous involvement in documented fraudulent transactions. In the wake of the challan submission, Senior Superintendent of Police (SSP) Crime Branch EOW Jammu cautioned financial institutions and vehicle buyers against forged clearance papers, advising strict institutional verification prior to hypothecation transfers.
Published by True Roots Media