Car on loan sold off without repayment to bank
Car sold off without repayment of bank loan.
A man took a car on loan from a bank and sold it off without repayment of the loan. The bank manager filed a case in Clock Tower police station.
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As per the complaint, Prince Kazmi took loan from Vijaya Bank for buying a car worth 8 lakh rupees. Some of the loan installments were paid by him. When more than 3 lakh rupees were due to the bank, the installments stopped coming. The bank then issued a notice to Prince to which he did not respond. The bank manager then filed a case of fraud in the court against Prince Kazmi. When police started investigations, they came to know that the car was sold off to someone else by Prince without repayment of loan.
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