Surat: 5 held for submitting faux paperwork to get loans

Surat crime department on Saturday arrested 5 individuals for allegedly submitting faux paperwork of automobiles to acquire loans to the tune of Rs 8.64 crore from Yes Bank and failing to repay Rs 5.24 crore.
Police mentioned that the accused had taken 53 totally different loans for 52 automobiles of Ashok Leyland and Tata motors from Yes Bank between August 2016 and October 2018. But later, it was discovered that the paperwork have been faux and the automobiles weren’t even manufactured. Loan restoration supervisor of the financial institution Ashok Bhosle lodged a grievance with Surat crime department on January 15.
Acting on the grievance, Surat crime department arrested Irshad Pathan, Imran Pathan, each residents of Valak village in Kamrej taluka of Surat, Kapil Kothia, from Mota varachha, Shailesh Jadwani, a resident of Varachha and Mukesh Sojitra, from Simada space.