Nine home loans sanctioned at Nainital Bank’s Daliganj branch in Lucknow were allegedly obtained using forged identity cards and property documents. An outstanding amount of around ₹1.87 crore is involved, and an FIR has been registered against 18 people, including loan holders, the bank’s panel advocates and a panel valuer.
The alleged fraud relates to nine home loans sanctioned at Nainital Bank’s Daliganj branch during 2025. According to the bank, the current outstanding amount in these loan accounts is around ₹1,87,55,682.
The branch manager said the nine home loans were sanctioned between May 17 and June 27, 2025. The borrowers did not make instalment payments after taking the loans, following which the accounts were classified as non-performing assets (NPAs).
After the instalments were not received, the bank sent notices to the loan holders. When there was no response, the bank conducted an internal verification of the mortgaged properties and related documents. The verification revealed several irregularities.
The bank’s investigation found that sale deeds, identity cards and other property-related documents submitted for the loans were allegedly suspicious. Some documents were allegedly found to contain forged seals and signatures.
It was also alleged that people other than the actual property owners were presented and the properties were mortgaged to the bank. During an on-site verification conducted by the bank, some actual owners denied having any knowledge of loans being taken against the properties.
According to the bank, reports related to property ownership and valuation were also used in some cases to advance the loan process.
Bank panel advocates Ashish Singh and Narendra Singh Mehta, along with panel valuer Satyendra Kumar Verma, have also been accused in the case.
The bank alleged that the advocates prepared incorrect reports regarding property ownership, while the valuer was accused of overvaluing the properties. According to the bank, the loan process was advanced on the basis of these reports.
After the branch manager submitted complaints to Hasan Ganj police station and senior officials but no action was taken, the matter was taken to court. Following the court’s order, police registered an FIR.
Hasan Ganj police registered a case against 18 people, including the loan holders, bank-linked advocates and the valuer. The FIR names Bharti Agrawal, Ruchi Agrawal, Gyan Singh, Babu Lal, Ashish Singh, Narendra Singh Mehta, Satyendra Kumar Verma, Bhavna Rastogi, Divakar Upadhyay, Abhishek Asthana, Mohammad Umair, Sheikh Mohammad Salim, Mohammad Rehan, Aftab Alam, Shehzad Alam, Mukesh Yadav, Mardon Furniture and Mo. Umer.
Police said the case is under investigation. The investigation will examine loan applications, property documents, identity cards, bank records and the roles of the people concerned.
According to the available information, individual loans involved amounts ranging from ₹18 lakh to ₹20 lakh. In addition, a loan of ₹9.50 lakh was recorded in the name of Mardon Furniture and a ₹10 lakh loan in the name of Mo. Umer. The role of each accused in the alleged fraud will be established after the police investigation is completed.
