Kashmir Bank Loan Scam Chargesheet Filed Against Five For Document Forgery

SRINAGAR July 05 — The Economic Offences Wing of the Jammu and Kashmir Crime Branch has filed a formal chargesheet in a multi-lakh bank loan fraud case dating back to 2007. The chargesheet was presented before the Court of the Chief Judicial Magistrate in Srinagar against five individuals identified as Sheikh Samiullah, Ab Ahad Bhat, Ghulam Nabi Baqal, Mushtaq Ahmad Sofi, and Sartaj Ahamd Hakeem.

The accused face multiple charges, including cheating, forgery, and criminal conspiracy under the Revised Penal Code, for allegedly securing substantial financial credits using fabricated property and revenue documents.

The case originated from a complaint lodged by Jammu and Kashmir Bank, which reported that the individuals had secured a term loan of 30 lakh rupees from its Zainkote Branch alongside a cash credit facility of 30 lakh rupees from its Residency Road Branch.

Authorities launched an investigation after the borrowers defaulted on their payments. Subsequent verifications conducted by revenue officials confirmed that the title deeds and revenue extracts used to mortgage the properties were entirely counterfeit.

The investigation ultimately concluded that the accused operated in conspiracy to deliberately deceive the banking institution and misappropriate the funds.Following the legal development, the Economic Offences Wing has urged members of the general public to stay cautious against fraudulent financial schemes and to report any suspicious economic activities to the Senior Superintendent of Police.

Individuals who have fallen victim to similar financial scams are encouraged to submit their formal complaints directly through the official law enforcement email channel at sspeow-kmr@jkpolice.gov.in.