Excelsior Correspondent
JAMMU, Apr 29: Crime Branch Jammu today arrested a fraudster, Puneet Rasutra son of Sham Lal, a resident of Rehari for obtaining Cash Credit Limit from Jammu and Kashmir Bank, Trikuta Nagar branch on the basis of forged and fabricated work orders.
A Crime Branch handout said a case under Sections 420, 467, 468 and 471 RPC has been registered against Rasutra at Crime Branch police station for further investigations.
Rasutra had started business with complainant Munish Bhatia son of Madan Mohan Bhatia R/o Canal Road under the name and style of M/s ACE Engineering Infra Tech Pvt Ltd with headquarter at SIDCO Industrial area, Bari Brahmana.
Taking advantage of his close relationship with Munish Bhatia, Rasutra induced him to mortgage his as well as his brother’s property at Gandhi Nagar with the bank to avail the CC Limit.
Bhatia mortgaged the property valued in crores. The Bhatia brothers also became guarantors in the limit.
In 2015, Rasutra again approached Bhatia for mortgaging his property as collateral security for O/D limit by assuring him that he had secured supply order worth Rs 16 crore for manufacturing pre-fabricated ‘A’ vehicle garage at Dimapur.
Investigations conducted by the Crime branch revealed that Puneet Rasutra and his brother Sumeet Rasutra had played fraud with the bank and availed substantial credit facilities worth crores on the basis of forged and fabricated work order with common and criminal intention by hatching well knit criminal conspiracy. They committed the offence of cheating using fraudulent means by preparing fake and forged documents, the Crime Branch handout said.
Accused Rasutra was today arrested by a Crime Branch team headed by DySP Bushan Kumar Ganjoo.
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