Cops finally begin probe

In a case of lax action, Bharati Nagar police registered a case against four conmen after seven long years

In a case of lax action, Bharati Nagar police registered a case against four conmen after seven long years. The complaint was taken against the gang that duped a nationalised bank of Rs 1.12 crore, only after the bank manager dug up the case.

Former branch manager of Indian Overseas Bank situated on St John's road in Bharati Nagar filed the complaint against the accused in 2004 for submitting fake documents and availing a loan. However, he didn't follow up the case.


The fraudsters had duped the bank of Rs 1.12 crore by submitting fake documents and availing a loan

Interestingly enough, it was only when recently appointed branch manager Hari Madan chanced upon the file last week and decided to check with the Bharati Nagar police station, did things move ahead.
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He was astonished to learn that the investigation had not proceeded and the police not only feigned ignorance, but refused to file an FIR against the accused.

Madan then consulted the bank's legal team and approached the Additional City Metropolitan Court and filed a complaint. Based on the court's direction, Bharati Nagar police finally booked a case and initiated investigations.

Faulty procedures
Though a complaint was filed earlier, investigations did not proceed, and even the bank officials forgot to follow up.

Reacting to the allegation, Bharati Nagar police Inspector K R Ganesh said, "It's a common practise that fraudsters get loans sanctioned in connivance with bank officials. Instead of punishing the officers, the bank approaches us each time they are in trouble," he averred.

As per procedure, banksu00a0 should verify properties, which are attached for mortgage along with proper background checks of the guarantors. However, officers clear the documents and sanction loans to people using illegal means.

Instead of correcting the system internally, the bank always shifts the blame on the police, he added. Ganesh said that records showed that the police had taken a complaint, but the bank is insisting on a FIR, as they need for the record purpose.

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