Man who fabricated papers to take loan in other's name held

A 34-year-old man was arrested for allegedly cheating a professor of an engineering college to the tune of Rs 27 lakh a year ago, police said today.
The accused, Arvindkumar Ramdular Giri from Siddhikpur in Jaunpur district of Uttar Pradesh, was evading arrest for about a year, Kapurbawdi police station senior inspector B R Chowdhary said.
Acting on a tip-off that Giri was scheduled to attend the last rites of his grandmother, the Thane police with the help of their counterparts from UP, laid a trap and arrested him from his native place on Thursday.
Subsequently, he was brought to Thane and produced before a local magistrate, who remanded him in police custody till December 24, the police official said.

Giri had approached VJTI Mumbai professor Rajesh O Bhagwat and offered to purchase his flat in the city for Rs 42.50 lakh. He also paid Bhagwat an advance of Rs 2.50 lakh.
On April 19, 2012, they entered into an agreement and registered the same with the Thane registrar's office.

Later, the accused allegedly fabricated all the documents. He produced a bogus sanctioned letter for Rs 36 lakh and collected the original documents from the victim.
He submitted them along with the NOC from the society to housing loan finance company HDFIL and managed to get a loan of Rs 27.73 lakh, favouring Bhagwat, police said.

He then opened an account in Bhagwat's name with Shamrao Vitthal Co-op Bank here and got a cheque of Rs 27,73,636 credited in it. He exhausted the entire amount.
For opening the account with the bank, he used fake PAN card, electric bill and even got the photograph of the victim replaced in the agreement with that of another person.
On January 11 this year, an offence was registered with the Kapurbawdi police station by Bhagwat, who came to know about the cheating only when his bank started deducting the EMI of the loan he had not taken.
Following his arrest, Giri has been charged under sections 420 (cheating), 406, 468, 471, 120(B) rw 34 of the IPC, police said.

Police said they would also try to find out if he had cheated anyone else also in a similar manner.