Couple held for duping bank

SURAT: A businessman and his wife were arrested for cheating a cooperative bank in the city on Thursday. The couple, who owned an embroidery unit, had availed a loan of Rs 20 lakh from the bank to purchase machinery. The accused sold off even the mortgaged machinery in their unit and defaulted on payment of monthly instalments of the loan.
A complaint under IPC Sections 406, 429 and 114 was registered against the couple at Udhna police station by bank officials. Rasik Ghantiwala (55) and Sharda Gantiwala (54), owners of Bhavya Jari Traders at Bhathena, had taken a loan in two tranches of Rs12.5 lakh and Rs7 lakh between March 28, 2017, and January 30, 2018, from the SUTEX Cooperative Bank, Sahara Darwaja. They put seven jari machines of their factory at Bhathena and also at house at Parvat Patiya as collateral. The couple, who defaulted on regular payment of instalments for the loan, had the temerity to sell off all the machines, including the mortgaged ones, together with stock in their unit for Rs 36,81, 050.
A police officer said the bank officials asked the accused to pay Rs 2 lakh as an initial payment and the remaining amount later for final settlement. However the couple’s refusal forced the bank officials to approach the police. “We would produce the couple in court shortly and seek their remand,” the police officer added.
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