March 24, 2019 12:11 AM

Chandigarh (Face2News)

A case FIR No. 64, U/S 420, 120B IPC has been registered in PS-26, Chandigarh on the complaint of Pyara Singh Chauhan, General Manager, SBI, SCO No. 27-28, Sector-7C, Chandigarh against Mandeep Singh Chawla R/o # 412 Sec-37/A and Sanjay Sharma R/o # 512 Ph-8 Mohali (PB) in which it is alleged that  cash credit limit of Rs. 8,00,000/- and Term Loan of Rs. 2,00,000/- was sanctioned on request of Sh. Mandeep Singh Chawla S/o Sh. G. P. S. Chawla, R/o H. No. 412, Sector-37/A, Chandigarh for stock and furniture/fixtures and computer respectively on 11.07.2001 for running a shop in the name of M/s Manner Apparels, SCO-9, 1st Floor, Sector- 17 E, Chandigarh.

During the course of inspection on 16th April 2002 the unit was found closed. As per terms conditions of the loan entered into between the bank and borrowers, the loan is required to be repaid in full in case the activity stands closed. They have not deposited any amount despite epeated requests. The borrowers has misappropriated bank funds and has committed a breach of contract and has cheated bank to the tune of Rs 10,55,223/- plus interest w.e.f. 01.04.2001. Investigation of the case is in progress.

Have something to say? Post your comment
Copyright © 2017, Face 2 News, All rights reserved. Terms & Conditions Privacy Policy Disclaimers