2 booked for loan fraud in J-K's Baramulla

Two persons were booked in a loan fraud case in Jammu and Kashmir's Baramulla district on Monday, police said.

A fake no objection certificate (NOC), which was made on a bank's letterhead bearing its seal, was allegedly submitted to another bank by the two accused, they said.

After producing the fake NOC at Sheeri branch of J&K Bank, the accused managed to get a loan of Rs 12 lakh against an already mortgaged property, the police said.

The allegations against the duo were substantiated and accordingly a charge sheet was submitted before the court of chief judicial magistrate, they said.