Talwar Cars Private Limited was booked by Hyderabad city police for allegedly cheating the Central Bank of India.
Recently, the bank’s senior regional manager P. Anup Kumar lodged a complaint with Central Crime Station that on August 7, M/s Talwar Cars Pvt. Ltd., represented by Saket Talwar submitted four separate applications in their Charminar branch for sanction of loans of ₹ 75 lakh each against the quotation of ₹ 95 lakh each under Cent Vehicle Loan Scheme, for purchase of four Volvo XC90 cars for the company director’s personal use. They applied loan for four cars but purchased only two vehicles of the said model and as an alternative, they would give two vehicles of another model and requested to consider taking the documents for another model.
“But the company did not submit separate quotations for the same, nor obtained the bank's permission. It has submitted the Tax invoice for cars purchased and RTO’s Registration Certificates, which were different. They submitted fake invoices, diverted the loan amount and cheated the bank, due to which it suffered a loss of ₹ 2,00,40,000,” police said.
