Fraudulent evading arrest, arrested by Srinagar police

Srinagar: Srinagar police has arrested a fraudulent who was involved in the scam of Jammu and Kashmir Bank Loan availed by using fake documents and was evading arrest.
During the investigation of case FIR No 11/2017 under sections 467, 468, 420 and 120B RPC of Police Station Kral Khud, Srinagar police arrested one accused namely Sarfaraz Ahmad Hakeem son of Abdul Ahad resident of Illahi Bagh Soura on 14th of February 2017.
During further investigation of the case, it came to surface that the accused has availed a loan amount to the tune of 38 lac rupees from Jammu and Kashmir Bank Ltd, Branch Ganpatyar for the unit of photo editing under the brand name Edit World against the mortgage of land measuring 3 kanal 12 marlas and hypothecation of machinery purportedly to be acquired for said unit.
After paying installments for some time the accused turned defaulter. The concerned bank authorities could not take possession of the land and hypothecated items as the revenue documents were found to be fraud and the machinery to be hypothecated did no exist at all. The accused was granted anticipatory bail by Hon’ble court which was challenged by SHO Police Station Kralkhud and after strenuous efforts and viable arguments made before the Hon’ble court made no extension in the said order and subsequently the accused went into hiding who was nabbed by Srinagar police after strenuous efforts.
The case seems to be part of a larger syndicate which after producing fake documents before the banks take large amount of loan thereby fraudulently siphoning out the public money.