Manjit Singh charged with car loan fraud in Balongi

A man from Balongi has been charged with fraud for obtaining a car loan of ₹36 lakh using fake documents. The accused is Manjit Singh, originally from Fatehgarh Sahib. He is currently living in Balongi. The investigation began after the branch manager at Punjab Gramin Bank filed a complaint. He suspected that some staff at the RTO in Mohali might have helped Singh. On September 14, 2023, Singh applied for a loan to buy a Toyota car and submitted fake ownership documents. The bank approved the loan on September 16. After receiving the loan, Singh purchased the car and registered it with the bank's hypothecation as security. However, in September 2024, the bank did not receive any loan repayments. This led bank officials to investigate Singh's documents. They discovered that Singh had provided a forged No Objection Certificate (NOC) and other false information. The RTO officials in Mohali had also failed to verify these documents before terminating the bank's hypothecation. Singh is accused of selling the car to another person, Karamjeet Singh, and misappropriating the bank's security. Following these findings, the Balongi police have charged Singh with multiple offenses under the Indian Penal Code, including fraud and forgery.