The Nagaland Police has arrested the manager of Bank of Maharashtra in connection with forgery.
The case pertains to commission of forgery, fraud and cheating to the tune of Rs 1,85,32,000 when Nag was posted at the Bank of Maharastra, Dimapur Branch.
The case had been registered in East Dimapur Police Station under No. 16/2022 U/S 423/406/420/418 IPC.
The manager was arrested by a Special Investigation Team (SIT) constituted by the Nagaland Police. The accused has been identified as Pallab Nag who hails from Silchar in Cachar district.
According to the Nagaland Police, Nag along with few other persons had sanctioned unsecured loans to the customers against schemes such as Standup India, PMEGP, MSME and MDURA.
The sanctioned amount granted for purchase of vehicles and machinery were then siphoned off and misappropriated by the accused resulting in wrongful gain to them through misrepresentation, forgery, thereby defrauding the bank and causing breach of trust and cheating the victims.
Further, the police informed the public and bank customers to report similar instances in the future.
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