Three Mumbai conmen arrested in Nagpur

NAGPUR: Police arrested three men on Monday for allegedly cheating people through a bogus finance company here.
 
The Mumbai-based trio, identified as Sandip Shivlal Yadav, 32, a resident of Ulhasnagar in Thane, Manoj Baliram Dhumal, 28, a resident of Santa Cruz, and Sudarshan alias Sanju Pandurang Jadhav, 22, a resident of Mankhurd, opened an office in Nagpur in the name of Shri Laxmi Finance and Investment Company,
 
“They advertised in local newspapers promising easy loans. Vyankat Rambhau Kale, 27, a resident of Umrer near Nagpur, applied to the company for a loan of Rs1 lakh,” the police said. 

Kale paid 5 per cent of the loan amount with the application as per the terms of the company, and deposited his identity card, blank cheques and his PAN card with them.  The company gave him a post-dated cheque for the loan amount, drawn on Umrer branch of a nationalised bank.
 
Kale, acting on suspicion, made enquiries with the bank and learnt that the cheque given by the company was drawn on an account belonging to Vasant Baliram Shende, 35, also a resident of Umrer. Shende had also applied to the company for a loan and had given them blank cheques at the time. The company had issued one of the cheques received from Shende to Kale, said the police.
 
Based on a complaint filed by Shende, the police arrested the three for an offence under IPC sections 420 (cheating), 464 (making a false statement), 467 (forgery of valuable
security), 486 (selling goods marked with a counterfeit property mark), 471 (using as genuine a forged document) and 34 (acts done by several persons in furtherance of common intention).