Man Arrested in Rs 40 Lakh Canara Bank Loan Fraud Case in Guwahati

STAFF REPORTER

GUWAHATI: The Assam Police Criminal Investigation Department (CID) has arrested a man in connection with an alleged vehicle loan fraud involving Canara Bank branches in the greater Guwahati area. The accused, identified as Ramen Saikia alias Jaan Saikia, a resident of Birubari, was arrested from his residence on October 6.

According to the complaint lodged by Canara Bank, four vehicle loans of Rs 8 lakh each were sanctioned and disbursed by the bank's Ulubari branch between February and June 2023 in the names of Juri Mahanta Saikia, Madhuparna Choudhary, Leline Rabha and Samudra Jyoti Kashyap.

Another Rs 8 lakh vehicle loan was sanctioned by the Amingaon branch in the name of Jaan Saikia under the MSME Vahan Scheme for purchasing a Bolero BS6 commercial vehicle.

The matter came to light after the loan accounts turned non-performing assets (NPAs). A subsequent internal enquiry allegedly detected forged vehicle quotations, registration certificates, insurance documents and other papers.

The complaint alleged that Saikia, along with his associates, used the forged documents to obtain loans totalling Rs 40 lakh from multiple branches.

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