The famous cooperative bank of Aurangabad, Abhuday Coop bank has been cheated by some people.Bank in its innocence gave loan to a private firm which gave land as surety but later sold the same without the knowledge of the Bank.
Police have booked a company owner and two employees for allegedly cheating the bank to the tune of Rs 3.6 crore. The company, J S Pvt Ltd, borrowed loan from the Abhuday Cooperative Bank and mortgaged a piece of land as surety. Later, the firm’s owner and two others sold the land without the consent of the bank, police said.
Niranjan S Jadhav, the owner, and two others, B B Suraywanshi and R N Yelve, have been booked for cheating, they said. No arrest has been made.