Vehicle loan scam in Kotkhai: Fraud of lakhs by forging documents from finance company
Fraud
Shimla, 06 February: A case of fraud has come to light in Kotkhai of Shimla district by taking a vehicle loan of lakhs from a finance company. A person took a loan of lakhs of rupees from a finance company and manipulated the ownership of vehicles through forged documents. In this case, an FIR has been registered against Vijender, a resident of Chaupal, Shimla, under section 420 of the Indian Penal Code at Kotkhai police station.
Sandeep Kumar, a resident of Lakhanpur in Bilaspur district, lodged a complaint at Khotkhai police station that his financing company provides loans for the purchase of vehicles. Accused Vijender had taken a loan of a total of nine lakh rupees for two vehicles from his company. He took a loan of Rs 5.50 lakh for Mahindra Bolero Pickup (HP52B-5951) on 30 November 2023. Apart from this, a loan of Rs 3.50 lakh was taken for Honda City Car (HP82-6414) on 30 June 2024. According to the complainant, the loan was sanctioned after completing all the necessary formalities and both the vehicles were mortgaged with the company.
The complainant says that the loan termination NOC for any of the vehicles was not yet issued by his finance company. When the company checked the online vehicle registration records as part of its regular investigation process, a shocking revelation was made. According to the records, the ownership of both the vehicles had been secretly transferred to other persons and these vehicles were hypothecated in the name of Hinduja Leyland Finance Limited. This process was completed without any permission or documentary consent from the finance company.
The complaint states that accused Vijender changed the ownership of both the vehicles using fake documents and transferred the mortgaged vehicles to the name of another financial institution. The company claims that they did not give any consent for the transfer of ownership nor did they sign any document to end the hypothecation. This fraud was done without any valid permission. According to the police, this is a fraud in which a finance company has suffered a loss of lakhs of rupees. How this ownership change happened in the vehicle registration authority is also being investigated.
DSP Theog Siddharth Sharma said on Thursday that a case has been registered against the accused under section 420 of the Indian Penal Code and investigation has been started.
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