Press Trust of India

Fraudster held in Jammu

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Jammu: The police crime branch arrested a man here on Monday on charge of cheating, officials said.
The arrested, Puneet Rasutra, is presently on police remand, they said.
FIR has been registered under sections 420 (Cheating and dishonestly inducing delivery of property), 467 (forgery of valuable security, will, etc.), 468 (forgery for purpose of cheating), 471 (using as genuine a forged) of the Ranbir Penal Code, they said.
Police said complainant Munish Bhatia of Jammu had started a firm ACE Engineering Infra Tech Pvt Ltd with its office at SIDCO Industries Area in Bari Brahmna belt.
Rasutra had close relation with Bhatia, taking advantage of which the accused convinced Bhatia to mortgage his and his brother’s property in Gandhi Nagar here. The mortgage enabled Rasutra to avail a cash credit facility from J&K Bank, they said.
The mortgaged property is valued at Rs 4 crore, for which the complainant and his brother became guarantors, officials said.
In 2015, Rasutra again approached the complainant for mortgaging more of his property for overdraft (OD) limit, saying he had got a supply order for manufacturing prefabricated vehicle garage at Dimapur, worth around Rs 16 crore.
During investigation, it was found that Puneet Rasutra and Sumeet Rasutra had defrauded the bank and availed substantial credit of crores of rupees on the basis of forged documents, they said.
The arrest was made by a crime branch, Jammu, team, led by Deputy Superintendent P Bushan Kumar Ganjoo, officials said. (PTI)

Press Trust of India

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