Mumbai Crime: 5 held for taking loans with others’ CIBIL score papers

Those arrested include Bhushan Surve, Suresh More, Pravin Khadakbaan and Kiran Pednekar

The Dahisar police recently arrested five members of a gang that cheated two-wheeler sellers by taking loans with documents of those with good CIBIL scores. According to the Dahisar police, the main accused is a bank employee who provided the documents of good CIBIL score holders to his associates, who then purchased motorcycles on loan and sold them without paying a single instalment.

A CIBIL score is a three-digit numeric summary of one's credit history. The score is derived from the credit history found in the CIBIL (Credit Information Bureau (India) Limited) Report (also known as CIR i.e Credit Information Report).

API Chandrakant Gharge of the Dahisar police station received a tip-off that four people had been buying two-wheelers on loan and selling them from Rs 50,000 to Rs 55,000 in rural areas.

On investigation, Gharge found that a bank employee had been supplying the four people with documents of those with perfect CIBIL scores. The gang members would change the photo of the original document holder and paste their own photos on the documents. After their loans were passed, the gang members would sell the bikes to unsuspecting buyers for a low rate.

The police found that the main accused, the bank employee, stayed in Pune. They arrested him and recovered at least 23 two-wheelers that he had sold.

"There are many cases registered against the six gang members including the bank employee," said Gharge.

The police arrested five people and are on the lookout for one. The arrested people have been identified as Pravin Khadakbaan, Bhushan Surve, Suresh More, Kiran Pednekar and the bank employee, Pankaj Kumar.

The police said that the gang has till now sold at least 28 two-wheelers.

"We suspect that more people are involved. Pankaj Kumar was caught in Pune. He has tested positive for COVID-19 and is under treatment," said Gharge.