Surat crime branch on Saturday arrested five persons for allegedly submitting fake documents of vehicles to obtain loans to the tune of Rs 8.64 crore from Yes Bank and failing to repay Rs 5.24 crore.
Police said that the accused had taken 53 different loans for 52 vehicles of Ashok Leyland and Tata motors from Yes Bank between August 2016 and October 2018. But later, it was found that the documents were fake and the vehicles were not even manufactured. Loan recovery manager of the bank Ashok Bhosle lodged a complaint with Surat crime branch on January 15.
Acting on the complaint, Surat crime branch arrested Irshad Pathan, Imran Pathan, both residents of Valak village in Kamrej taluka of Surat, Kapil Kothia, from Mota varachha, Shailesh Jadwani, a resident of Varachha and Mukesh Sojitra, from Simada area.