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4 banks in vehicle loan racket

Jamshedpur, March 25: Investigation into the vehicle financing racket busted on Friday is getting murkier with four more banks suspected of being duped and the alleged involvement of bank staff members.

Superintendent of police Pankaj Kumar Darad urged people who have been similarly duped to register FIRs. He, however, declined to name the four banks that have been duped, adding some key staff are suspected of involvement.

“How can the management fail to check whether an applicant for vehicle loan is a bonafide person?” he said, adding that he would order for the arrest of some senior officials after gathering evidence.

The district police has asked banks to provide a list of loan applicants with details of those who are not paying monthly installments.

Police sources said one of the accused Anwar Alam revealed that his partner Nisqaut Hussan had a chip, with details of loans collected from various banks, including the ICICI. However, a raid by the police into Hussain’s office at Sahara City in Mango, drew a blank.

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