A man who had allegedly obtained a loan from a public sector bank by mortgaging a land parcel after forging its documents was today arrested by the Gujarat Anti-Terrorism Squad.
Bhadresh Mehta, owner of Rajkot-based cotton trading firm Bhadresh Trading Corporation, was arrested from Ahmedabad in connection with a land fraud which is being probed by the CID, said Himanshu Shukla, Superintendent of Police, ATS.
Shukla said that Mehta would be handed over to the CID for further investigation.
"Mehta's firm, which trades in cotton, obtained a loan of several crore rupees by using a plot of land, belonging to another person, as mortgage," Ashish Bhatia, DGP (CID Crime) said.
Bhatia said that Mehta had only made part payment for this land belonging to a farmer in Gandhinagar's Dehgam area.
He allegedly forged this land parcel's documents and obtained a loan from a PSB, Bhatia informed.
Also Read
The CID, which was probing the case, had asked for help from the ATS to nab Mehta, the DGP said.
"Mehta defaulted on loans and the banks are in the process of seizing his properties," Bhatia said.
Earlier, in 2016, the State Bank of India had told the Gujarat High Court that Mehta had taken loans of over Rs 1,450 crore from various banks and was irregular with repayment.
Disclaimer: No Business Standard Journalist was involved in creation of this content