Car loan racket: Police arrest 7, seize 16 vehicles

The Mumbai crime branch has arrested seven persons for operating a car loan racket and has seized 16 high-end vehicles, including BMW, Fortuner and Mahindra Thar, worth ₹7.30 crore from Mumbai, Delhi and Madhya Pradesh.

- Manish Kumar Pathak

MUMBAI:

The police said the vehicles were purchased fraudulently by obtaining bank loans using forged documents of several businessmen. The arrested seven worked as agents and procured certain information of the businessmen, like GST, PAN and Aadhaar numbers, to take vehicle loans from financial institutions with forged documents in their names.

The arrested accused have been identified as Ravindra Dinanath Girkar alias Pardeep Ravinder Sharma, 47, Manish Subhash Sharma, 39, Sayyed Naveed Sayyed Zulfiqar Ali, 52, Danish Rafiq Khan, 32, Sainath Venkatesh Ganji, 29, Yashkumar Sunilkumar Jain, 33, and Imran Abdul Wahid Khan alias Deva, 38.