Bank Customer Alleges Fraudulent Property Seizure by Bank

Bank Customer Alleges Fraudulent Property Seizure by Bank

The Udaipur Mahila Urban Cooperative Bank may well be the second culprit of Financial Scam in Udaipur after the recent drama unfolded in the Bhavishya Credit Cooperative Society case.

 

Bank Customer Alleges Fraudulent Property Seizure by BankThe Udaipur Mahila Urban Cooperative Bank may well be the second culprit of Financial Scam in Udaipur after the recent drama unfolded in the Bhavishya Credit Cooperative Society case.

Manoj Agarwal, resident of Sector 14 Hiran Magri has lodged a case of fraud against the Udaipur Mahila Urban Cooperative Bank. He has accused the Bank of seizing the property of its customer to whom it had granted a loan of Rs. 16 Lakh around 14 years ago. It may look like a standard case of Bank seizing the property of a defaulting customer, but what stands out here is that the worth of the property in question is more than Rs 5Cr.

The customer in this case is Manoj Agarwal himself and he claims that the Bank Administration underwent a false exercise.

As per information provided by the Police, the total outstanding on the loan which includes all interest charged till date is Rs. 1,49,51,164. It is against this outstanding that the Bank has seized the property worth Rs.5 Cr using fake documents as per the report lodged with the police.

The victim Manoj Kumar Agarwal of Sector. 14, Hiran Magri area has presented a compliant to S.P against the Bank Chairman Savita Ajmera, C.E.O S.L Alawat, Senior Manager Meenakshi Nagar, Managerial officer S.K Chittora and also against SNG Enforcement Agency, said the police.

Goverdhan Vilas police also informed that the Management people of the Bank were called at the station for investigation but they never turned up, on the pretext of being busy with meetings.

Manoj Agarwal also informed that Kardhar Complex, the property in question, situated at Sector.14 is registered on his wife Rajkumari’s name under the banner of Swastik Build Mart Pvt Ltd.

This property was never put on lease or mortgage against any loan in the past years but the accused Bank has falsely seized the property for the recovery of a loan taken on his wife Rajkumari’s, name 14 years back as a housing loan, as per the report filed by the victim.

Manoj also added that in the year 2006 the bank had once attempted to recover the loan amount through the recovery Tribunal by the medium of fake documents but when the victim appealed the court to seize all that documents the bank administration had withdrawn the matter from the tribunal, for which it has been penalized by the tribunal.

After a long period of 8 years the bank has once again attempted to recover the amount from the victim through an Enforcement Agency of the city. Later a notice has been issued regarding the seize of the property of the victim. A case has been registered by the victim against the agency too at the Bhopalpura police station, as informed by Manoj.

On the other hand Savita Ajmera, Chairman of The Udaipur Mahila Urban Co operative Bank said that bank is doing its job as per procedure and all the official decisions are taken by the CEO of the Bank and he will decide what to do in the future.

Investigating Officer, Gopal Singh said that the complaint of the victim has been registered and his statement has been taken. However the statements of the Bank officials are yet to be taken.

Editor’s Note: The above information has been provided by the Police as per records available with them. UdaipurTimes.com has not taken any first hand information from either party to the case.

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