New Delhi, August 4, 2026 (Yes Punjab News)
A businessman allegedly involved in a Rs 3 crore property loan fraud case has been arrested by the Economic Offences Wing (EOW) of Delhi Police from Laxmi Nagar, officials said on Tuesday.
The accused, identified as Maneesh Kumar, 59, a resident of Laxmi Nagar, was allegedly involved in a fraud against Protium Finance Ltd involving impersonation, forged title documents and the use of shell companies.
According to Additional Commissioner of Police (EOW) Ravi Kumar Singh, Kumar was arrested in connection with FIR No. 78/25 registered on July 14 at the EOW police station under sections related to cheating, forgery, use of forged documents and criminal conspiracy under the Indian Penal Code.
The complaint was filed by Lovleen Manchanda, authorised representative of Protium Finance, alleging that a housing loan of Rs 3 crore was fraudulently obtained for the purchase of a property located in D-Block, Anand Vihar, Delhi.
During the investigation, police found that a sale deed dated November 9, 2022, was allegedly executed using forged documents by an impersonator who falsely claimed to be the actual owner of the property. The accused persons allegedly executed two fraudulent sale deeds for the same property within a gap of 25 days, enabling them to secure loans from financial institutions.
Police said the investigation revealed that Kumar projected himself as a genuine purchaser but was allegedly an active conspirator in the fraud. The accused allegedly used fabricated ownership documents, impersonation and fictitious firms to obtain the loan and divert the funds.
Officials said Kumar falsely showed another woman, who has since died, as his spouse and co-applicant in loan documents, despite his actual wife being a different person.
Police further stated that Kumar, who runs Global Trading Company, allegedly created fictitious entities, including Global Finance and Bankey Bihari Enterprises, to facilitate the fraudulent loan transaction.
During the investigation, police conducted technical surveillance and found that Kumar had frequently changed his residence to avoid arrest. He was eventually traced to a rented accommodation in Laxmi Nagar and apprehended.
A search of his premises led to the recovery of multiple mobile phones, SIM cards, digital signature certificates, cheque books from various banks, POS machines and other documents allegedly linked to the fraud.
The EOW said further investigation is underway to identify other individuals involved in the conspiracy and trace the proceeds of crime.
ACP Ravi Kumar Singh also advised property owners to regularly monitor vacant properties and urged banks and financial institutions to conduct thorough verification before approving loans against properties, especially those that remain unoccupied for extended periods.
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