Man duped for Rs 3.97 L on pretext of giving loan on insurance policy

Aurangabad, July 19:

A man has been cheated for Rs 3.97 lakh on the pretext of giving a Rs 14 lakh loan. A case was registered with Harsul Police Station on Monday.

According to details, the complainant Narayan Lokhande (Radhaswami Colony, Jatwada Road) received a call from agents Rohit Patel and Bablu Shantiprasad on December 10, 2021.

Rohit and Bablu disguised as HDFC insurance company agents said that Narayan would get an interest-free loan if he takes a Rs 10 lakh policy of 10 years by paying a Rs 1 lakh yearly premium.

The fake agents also called the complainant that he would be able to repay the loan through his premium.

Trusting them, Narayan Lokhande paid issued a cheque of Rs 50,000 on December 12, 2019, to the callers to purchase the policy.

On receiving documents from the agents, he took Indian First policy of Rs 50,000 on January 29, 2020. He received the documents of this policy also.

He sent Rs 2 lakh to the account of Rohit Patel on January 13 for the fixed deposit, but, he did not receive its certificate.

Meanwhile, another two accused Sanjay Sharma and Rajkumar Mundada called Narayan informing him that he would Rs 14 lakh loan on his policy.

He agreed to this. The accused collected Rs 3.97 lakh from the complainant citing different reasons including processing fees, GST, bank charges and account linking.

When he did not receive a loan, he lodged a complaint with the office of the commissioner of police on December 21, 2021.

After the enquiry, a case was registered with Harsul Police Station against Rohit Patel, Sanjay Sharma and Rajkumar Mundada. Police inspector Amol Deokar is on the case.