Indore (Madhya Pradesh): Bhanwarkuan police arrested a grain businessman and his wife for defrauding a person of Rs 1.10 crore in a property deal by concealing the fact that the property was mortgaged to a bank and was under legal dispute, an official said on Thursday. Additional DCP Anand Yadav said that complainant Purushottam Madanlal lodged a complaint alleging that he had entered into an agreement with a grain trader Ashish Jain and his wife to purchase their property for Rs 2.40 crore.
He had already paid Rs 1.10 crore in installments. However, the accused failed to transfer the property registry in the complainant’s name, as the property was mortgaged to a bank and is a part of an ongoing court dispute. The police registered a case of fraud against the couple and arrested them.
Man booked for selling property mortgaged with bank
A property owner was booked for fraudulently selling a property, which was mortgaged with a bank, to a buyer without revealing the truth in Aerodrome area, an official said on Thursday. The owner had allegedly taken a loan of Rs 29 lakh against property in Nariman City and he sold the same property to Radha Sharma’s son for Rs 35 lakh in August 2023.
Additional DCP Alok Kumar Sharma said that one Radha Sharma, a resident of Lodhipura, lodged a complaint stating that she and her son had made an agreement with one Avneesh Kumar Tyagi for buying his property. The property was mortgaged with the bank and even though the complainant paid him Rs 35 lakh in two installments the accused did not repay the mortgaged amount.
But instead the accused sold the land to the complainant even though the original documents are in bank’s custody. The police registered a case against the accused under section 318(4) of the BNS and further investigation is underway.
