The Economic Offences Wing (EOW) of Delhi Police arrested a 55 year-old man for allegedly selling mortgaged property in national Capital. The accused has been identified as Jai Bhagwan Singhal, a resident of Punjabi Bagh area.
According to Dr O P Mishra, the Joint Commissioner of Police, EOW, a case was registered on the basis of complaint given by Alok Kumar, Authorised Representative, Dewan Housing Finance Corporation Limited against Jai Bhagwan Singhal.
“The complainant alleged that Jai Bhagwan and his family members availed loan against a plot in East Punjabi Bagh of Rs.4.95 Crores and created equitable mortgage of the property by submitting original title documents of the property,” said the Joint CP.
“After availing the loan, accused Jai Bhagwan sold the second floor to V Sunita Rao for a sale consideration of Rs.1,25,50,000. Similarly third floor with stilt and terrace right of the above property sold to Anju Saluja for a sale consideration of Rs.1,06,00,000 without any permission from DHFL and also filed wrong information with the Sub-Registrar office that the property is free from all sorts of encumbrances and mortgage,” said the Joint CP.
“Jai Baghwan was arrested and he revealed that he with knowledge and fraudulent intention sold part of the mortgaged property (2nd and 3rd Floor) to two buyers without getting any permission from the complainant NBFC,” said the Joint CP.
