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A Maharashtra-based company had forged documents of close to 10,000 farmers and availed ‘crop loans,’ of up to ₹328 crore under fictitious identities, the Enforcement Directorate (ED) said on Thursday.
The authority has conducted searches under the Prevention of Money Laundering Act (PMLA) in 10 premises at Mumbai and Parbhani in a bank fraud case involving Ratnakar Gutte, Chairman of Gangakhed Sugar and Energy Pvt Ltd (GSEPL), and others.
“GSEPL has fraudulently availed loans from Andhra Bank, UCO Bank, United Bank of India, Bank of India, Syndicate Bank, Ratnakar Bank,” the ED press note said.
It is alleged in the first information report that during the period from 2012 to 2017, GSEPL created forged documents like 7/12 extract, photographs and other fraudulent documents of farmers. “These loans were illegally availed from various banks in the name of bogus farmers and even in the name of some of the dead farmers,” an ED statement said.
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