Plot Mortgaged Using Forged Documents: ₹1 Cr Home Loan Fraud Surfaces in Ahmedabad

A 72-year-old Ahmedabad resident has accused four persons of orchestrating an elaborate property fraud in which her residential plot in Ghuma was allegedly mortgaged using forged documents to obtain a housing loan of ₹1 crore.

Based on her complaint, the Bopal police have registered an FIR and initiated an investigation into the alleged fabrication of ownership records, the mortgage transaction and the sanctioning of the loan.

Recovery notice exposed fraud

The complainant, Bhanuben Rajeshbhai Patel, a resident of Bodakdev, told police that she had legally purchased Plot No. 531 in Shri Vrajshyam Co-operative Housing Society through a registered sale deed executed on December 31, 2020. The housing society subsequently transferred the property in her name on January 31, 2021, and issued the original share certificate reflecting her ownership.

The matter remained undisputed until March 2026, when her son visited the vacant plot and noticed a recovery notice issued under the SARFAESI Act attached to the compound wall.

The notice, dated February 12, 2025, had been issued by True Home Finance Limited, formerly known as Shriram Housing Finance Limited, after the borrower allegedly defaulted on repayment.

Alarmed by the development, the family obtained certified digital property records, which, according to the complaint, revealed that ownership documents had been fraudulently created in another individual's name.

Forgery used to obtain loan

Police said the accused allegedly prepared a fabricated allotment letter and a forged share certificate showing the property as having been allotted to Nirmal Karamchand Balani on May 21, 1999.

The complaint states that the forged records bore counterfeit society seals and fabricated signatures of the society's chairman, B.P. Patel. These documents were allegedly submitted before the housing finance company to establish ownership and secure a housing loan.

Investigators further allege that Nirmal Balani signed declarations, registration documents and the registered mortgage deed using the forged records. Bhavesh Ghanshyambhai Balani and Kamleshbhai Shankarlal Gurnani allegedly acted as witnesses to the mortgage transaction.

Using the disputed documents, the accused allegedly obtained a ₹1 crore housing loan on October 31, 2023. The loan records reportedly listed Nirmal Balani as the primary borrower and Bhavesh Balani as the co-applicant.

The complainant has alleged that while the loan amount was utilised by the accused for their own benefit, her property was illegally pledged as security, ultimately resulting in recovery proceedings initiated by the lender.

Four booked; probe expands

The FIR names Padipak Nanakram Ahuja, Kamleshbhai Shankarlal Gurnani, Nirmal Karamchand Balani and Bhavesh Ghanshyambhai Balani as accused.

The complaint further alleges that a property-related order issued by the Deputy Collector of the Stamp Duty Valuation Department was also procured using the forged allotment letter.

Police have said the investigation will examine the authenticity of the ownership documents, the manner in which the loan was processed and sanctioned, and the role played by each accused. Officials added that additional persons may be booked if evidence of their involvement emerges during the investigation.