Chandigarh, March 24 — Balongi police have booked a local resident for allegedly availing a ₹36 lakh car loan using forged documents and later selling the vehicle to a third party.
The accused, Manjit Singh, a native of Fatehgarh Sahib currently residing in Balongi, was booked following a complaint by the branch manager of Punjab Gramin Bank, Balongi. The manager also raised suspicions about the involvement of RTA staff in Mohali.
According to the FIR, Manjit Singh applied for a vehicle loan on September 14, 2023, submitting the fard jamabandi of Sanolia village, Patiala, as collateral. The bank sanctioned the loan two days later, enabling him to purchase a Toyota car. He then hypothecated the vehicle in the bank’s name and submitted a registration certificate reflecting the hypothecation.
However, in September 2024, after the bank failed to recover the loan dues, officials launched a probe. The investigation revealed that Manjit Singh allegedly submitted a forged NOC to terminate the bank’s hypothecation without its consent.
“The connivance of RTA officials in SAS Nagar cannot be ruled out. They terminated the hypothecation without verifying the NOC and other documents from the bank,” the FIR quoted the branch manager.
The bank found that Manjit Singh had sold the car to Karamjeet Singh of Machhiwara, misappropriating the bank’s security.
Balongi police have booked the accused under Sections 406, 420, 465, 467, 468, and 471 of the IPC.
