Three people who acquired housing loans close to Rs 50 lakh from a Borivali State Bank of India (SBI) branch by submitting fake documents have been booked by the police. The accused trio identified as Fateh Singh Bajwa, Kishanchand Lahori and Sanmukh Sun are said to have conned two more banks by using the same modus operandi. Bajwa who is the main accused in the Borivali case had applied for the loan in 2015 and later as he failed to repay the instalments, the bankers declared him a defaulter and the entire scam unearthed as the bankers took their investigation ahead. According to police, the complainant in the case – chief manager of the branch, alleged that Bajwa had applied for a loan to purchase a house in Kharghar area of Panvel and for the same, he had submitted relevant required documents like purchase agreement, registration receipt, Index-2, occupation certificate and No Objection Certificate. After getting the property evaluated from a government-approved agency, the bank sanctioned the loan of Rs 52 lakh. On the same day, Bajwa transferred Rs 50 lakh into the bank account of Lahori who is the proprietor of Bhavani Building and Developers. The bankers tried to reach out to Bajwa after he stopped paying instalments on July 2017. Later, a team of advocates of the bank submitted a search report which stated that the property had already been sanctioned loans by two banks namely Diwan Housing Finance Limited and GIC Housing Finance in 2016 "The documents submitted by Bajwa when checked with Registrar office turned out to be forged. It was later ascertained that he in association with Lahori prepared bogus documents and submitted it to the bank to acquire a loan," said a police officer. When the Panvel property was searched by the bank, it was found that another bank had already stuck a notice on the main door and Bajwa was later declared as a defaulter. His Kalyan residence and Ghatkopar office were also found vacant. Forged Docs An accused who had got a home loan in 2015 from the SBI branch stopped paying instalments in July 2017. The documents submitted by him to avail the loan turned out to be forged upon investigation

Stay updated with all the Mumbai Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.