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Man arrested for cheating Madhya Pradesh resident of Rs 1.3 crore

Press Trust of India  |  New Delhi 

A 59-year-old man, accused of cheating a resident of Rs 1.3 crore on the pretext of getting him a loan from LIC Housing Finance, was arrested from Northwest Delhi's Netaji Subhash Place, police said Tuesday.

Ravinder Singh Nagar, a resident of Nangloi in Delhi, was carrying a reward of Rs 25,000 on information leading to his arrest, the police said.

In 2014, Amarjeet Singh Bhalla, a resident of Gwalior in Madhya Pradesh, had registered a complaint at station alleging he was cheated of Rs 1.3 crore.

"Bhalla, in his complaint, stated that he needed a partner and capital to expand his hospital business in Nagar introduced himself as in and promised to arrange funds from LIC Housing Finance," said Ajit Kumar Singla, of Police (Crime).

Nagar and his associates -- Jaiprakash Sharma and Ravinder Dubey -- met the victim in September 2012 at a club on Parliament Street. They took Rs 55,000 from him as initial application fee, Singla said.

Nagar visited Gwalior three times between October and December 2012.

There he filled four loan application forms of Rs 50 crore, Rs 40 crore, Rs 40 crore and Rs 20 crore and deposited cash Rs 55,000 with each form as application fee.

"Nagar and his associates managed to cheat Bhalla of Rs 1.3 crore on the pretext of arranging loans from When the victim realised that he had been cheated, he filed a complaint at station," Singla added.

On Sunday, the Crime Branch apprehended Nagar from Netaji Subhash Place after receiving a tip-off that he would come there to meet someone.

Two other accused in the case -- Chanderkant Soni and Sagar Chandani -- had earlier been arrested.

Nagar was declared a proclaimed offender by a court. Three other accused in the case -- Sanjay Verma, and -- were on the run.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 09 2018. 18:55 IST