Public sector lender, Bank of India's RT nagar branch has been duped by two businessmen in a fake loan case. The rogues submitted forged documents to avail a loan worth Rs 23 lakhs.
The forgery came into the eyes of the bank when they went to check the address of the client and found it to be a fake one. On further scrutiny they found that the documents given to them were also false, said CB Hugar, the bank's senior branch manager in RT Nagar.
Hugar informed that Indira Electronics and Dhanalakshmi Rice Traders, situated in Sahakar Nagar, received a business loan by producing documents of a house in Uttarahalli worth Rs. 46.26 lakh.
After the loan got sanctioned, the borrowers stopped paying EMIs even after several reminders had been sent by the bank.