Man who duped banks worth nearly Rs 5 crore arrested

A man who llegedly duped several banks to the tune of nearly Rs 5 crore by seeking loans through forged property papers, has been caught here after evading arrest for several years, police said today.
Ram Narayan (45), was arrested in connection with a 2010 cheating case in which he had procured loan worth Rs one crore on the basis of forged property documents from the an SBI branch, following a tip-off about his presence outside Tis Hazari court, DCP (North-West) Vijay Singh said.
In July 2010, west Punjabi Bagh resident Rakesh Bansal lodged a police complaint against the accused alleging he along with his associates, had prepared forged conveyance deed of his property in Ashok Vihar and taken a loan of Rs one crore from SBI by mortgaging the property in 2006.

The officer said despite just being a matriculate, Ram planned meticulously to cheat through forged property papers and get bank loans.
Investigators found that Ram claiming to be a proprietor of a 'firm' had opened its current account with SBI, Chandni Chowk. He requested the bank officials for the overdraft limit facility of Rs one crore in the year 2006-07 against the mortgage of Bansal's property, showing it to be his own on the basis of forged papers and got the loan, he said.
During interrogation, he said he had bought an MIG flat of DDA in Ashok Vihar with the money he had obtained from the bank.

Further, he claimed to have used sets of forged original title deeds of the flat to get loans to the tune of Rs 4 crore from different banks.
The CBI had also registered a case against him in this regard in 2012.