The Nashik police have registered a case against six persons for allegedly cheating TJSB Co-operative Bank of Rs 38 crore and arrested Bafna Jewellers director Nilesh Bafna in connection with the fraud, officials said on Monday, reported PTI.
Loans allegedly obtained using inflated stock statements
According to police, Bafna initially availed a cash credit facility of Rs 90 lakh from TJSB Co-operative Bank in 1998. He repaid the amount over time, earning the trust of bank officials.
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