Five Arrested for Cheating Bank Out of ₹76.6 Lakh with Fake Documents

A group of individuals, allegedly led by Ashikul Sheikh, obtained automobile loans for five vehicles using fake bank statements and IT return documents, duping the bank out of ₹76.6 lakh. The accused, who also sold the vehicles to buyers, were arrested in Kolkata and remanded to police custody. Further raids are being conducted to apprehend more suspects involved in the racket.

Key Takeaways:

• The accused individuals, comprising Ashikul Sheikh, Somenath Ghosh, Avijit Pal, Saifulla Seikh, and Shankar Gupta, took automobile loans for five vehicles, including Hyundai Creta and Hyundai Alcazar.
• The loans were obtained by producing fake bank statements and forged IT return documents, totaling ₹76.6 lakh.
• The accused disposed of the vehicles, causing a loss to the bank, and sold them to buyers.
• Ashikul Sheikh, a resident of Bishnupur in South 24-Parganas, was allegedly one of the masterminds and arranged for the borrowers.
• Somenath Ghosh and Avijit Pal took a loan of ₹14 lakh each using fake bank statements and IT returns.
• Saifulla Seikh prepared the fake documents, while Shankar Gupta disposed of the cars and sold them to buyers.
• The accused were produced before the court on Wednesday and were remanded to police custody.

Statistics:

• The accused duped the bank out of ₹76.6 lakh by taking five automobile loans.
• Four of the accused individuals, Somenath Ghosh, Avijit Pal, Saifulla Seikh, and Shankar Gupta, were borrowers who took loans of ₹14 lakh each.
• Five vehicles, including Hyundai Creta and Hyundai Alcazar, were the subject of the loans.

Sources:

• Kolkata Police [1]
• ABP Private Limited [Copyright 2025]