Rajkot car loan scam: Bank duped of ₹93.15 lakh

A scam involving a car loan fraud of ₹93.15 lakh has come to light in Rajkot, where an individual, along with a commercial bank’s female manager and several others, misled the bank using forged documents. 

The accused individuals, including auto broker Shrujay Vora and Lakshyank Vithlani, collaborated with the female branch manager of Vijay Commercial Bank to submit fake documents, such as fake RC books, insurance policies, and quotations. They were able to secure car loans for 10 cars, resulting in the massive fraud.

According to the details, Durgesh Acharya filed a complaint stating that he has been serving as the Assistant General Manager at Vijay Commercial Bank’s main branch for 23 years. Four months ago, they had received an application indicating fraudulent activity involving Vora and Vithlani in securing car loans. 

Upon further investigation, the bank manager who was involved in approving the loans, Devika Vasana, confirmed that the car loans had been processed through Vora and Vithlani, with eight additional car loans also being arranged for them.

It was later revealed that the loan amounts for the cars were transferred through RTGS to bank accounts belonging to Mahakal Enterprises and Jain Scientific Industries, in which ₹28.70 lakh were transferred to the Mahakal Enterprises account and ₹64.50 lakh to the Jain Scientific Industries account.

Acharya further mentioned that, including Vora, Vithlani, and other individuals involved with the enterprises and the bank manager, forged documents, submitted false names and identities, and secured loans in the names of unfamiliar individuals. This fraudulent activity led to a total scam of ₹93.15 lakh from the bank.

The police have registered the complaint against the individuals and started a probe into the matter.

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