Bank loan

PNB chief director arrested for collusion in Rs 400 cr loan scam: Police

Ghaziabad Police on Tuesday arrested a chief manager of the Greater Noida branch of the National Bank of Punjab over his alleged collusion in a Rs 400 crore loan scam with its chief defendant Lakhsya Tanwar.

A special investigation team investigating the loan scam has arrested chief manager Utkarsh Kumar of the bank’s branch in Greater Noida, the city’s superintendent of police, Nipun Agarwal, said.

Kumar was earlier assigned to the Chandra Nagar branch of the PNB during the scam, in which Tanwar managed to secure bank loans worth more than Rs 400 crore based on fake documents in collusion with various bank officials.

Police had previously arrested the bank’s deputy general manager, Ram Nath Mishra, and manager Priyadarshani for their alleged role in the scam.

Tanwar faces 39 cases of cheating and forgery and Kumar faces 12 for their role in the scam, SP Agarwal said, adding that SIT is raiding alleged hideouts of Tanwar’s wife, Priyanka Tanwar, and more than a dozen other defendants in the case.

Some of the former bank employees who also participated in the scam will soon be arrested, the SP said.

Tanwar was arrested and his real estate seized by Ghaziabad administration earlier.

Tanwar has also been booked under Uttar Pradesh’s gangster law, Agarwal said.

The loan scam had come to light in August 2020 when a man named Shivam filed a lawsuit against Tanwar, his wife Priyanka Tanwar, PNB Director Kumar, Deputy Director Priyadarshani and other staff at the post. GT Road Kotwali police, alleging that Tanwar purchased two properties worth Rs 1.33 crore in his name and obtained a loan of Rs 4 crore from the bank.

During the investigation, the police discovered that Shivam and his father Sunil Kumar were hand in hand with Tanwar. Shivam had filed suit just to save himself and his father after the bank started sending them notices to collect the loan amount, police said.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)