Chandigarh: A Man Fooled Bank by Taking Auto Loan of 20 Lakh & Bought a 2-Wheeler

Chandigarh | We agree that the news for defaulters in bank loan casesis a daily routine story in your news papers and is nothing writing about, but the story we bring you today has quite a twist element to it. Hardeep Singh, a resident of Patiala took a bank loan of twenty lakh Indian rupees from Punjab National Bank in Sector 4, Chandigarh. A Sector 41 resident Kumar along with Hardeep’s mother Ranbir Kaur and wife Maninder Kaur furnished themselves as a guarantee.

He fooled the Chandigarh bank by providing them with Activa’s RC

Hardeep Singh applied for the bank loan from Punjab National Bank, Sector 4, Chandigarh and reportedly defrauded in the payment of the bank loan. He used his mother and wife as guarantees for the bank loan. When the payments went long overdue, the bank tried to constantly contact him and eventually reached the Registration Authority of Patiala only to find out that the RC that Hardeep had provided them was of a Honda Activa Scooter.

The bank loan that was given from the Chandigarh bank was processed on June 11, 2013 for the purchase of a Toyota Fortuner car. As per the agreement of the loan, the applicant was supposed to submit a copy of the Registration certificate after the process of registration.

The Chandigarh Police has not made any arrests in the loan defaulter case.

Mukesh Malhotra, the assistant commissioner of Police (ACP) stated that there haven’t been any arrests made in the case. The Police is just verifying all the facts and examining the documents of the bank loan as of now. The Chandigarh Police will then summon both the accused and the compliant when they are ready for questioning. The senior manager of PNB, Sector 4, Chandigarh confirmed the news and told the media that the accused Hardeep Singh had applied for a bank loan of twenty lakh Indian Rupees while his mother and wife along with Kumar had furnished the guarantee.

As the number of defaulters in bank loan cases increase the PNB bank wants to treat this case with utmost priority. Forging false papers in a bank loan is a criminal offence and the applicant will be charged under respective sections of the Indian Penal Code.

Source: Times Of India


Ishpreet Singh

A sound engineer, blogger, tech geek and a critic are the few words that describe Ishpreet Singh. He is an avid reader, an audiophile, and a huge David Fincher fan - basically all things art. He believes that the true strength of the written word lies not in the one who writes but in the one who reads and is able to comprehend. You can reach Ishpreet at
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