Jammu, J&K (India): The Economic Offences Wing (EOW) of the Crime Branch on Thursday filed a chargesheet against two persons for allegedly defrauding the State Bank of India (SBI) of ₹7.2 lakh by fraudulently obtaining a tractor loan using forged documents and diverting the loan amount without supplying the financed vehicle.
According to officials, the chargesheet was filed before the Court of the City Judge, Jammu, in connection with a case registered in 2024 following a complaint lodged by Sushil Kumar, Branch Manager of SBI’s Agriculture Development Branch, Jammu. The complaint named Kulbir Singh, proprietor of K.K. Motors, Abdul Hamid, and others.
The complaint stated that Abdul Hamid had availed a loan under the SBI Tatkal Tractor Loan Scheme to purchase a tractor from K.K. Motors. After completion of all required formalities, the loan amount was transferred to the dealer’s account through NEFT.
However, despite receiving the payment, the dealer allegedly failed to deliver the tractor to the borrower, causing a financial loss to the bank and resulting in the misuse of public funds.
During the investigation, the EOW found that Kulbir Singh and Abdul Hamid had allegedly secured the loan by submitting fake and forged revenue documents. The probe further revealed that the loan amount was diverted to the account of K.K. Motors, while the financed tractor was never supplied to the borrower.
Officials said the investigation, supported by documentary evidence, witness statements, financial records, and other corroborative material, established the alleged involvement of the accused, leading to the filing of the chargesheet for judicial proceedings.
The Crime Branch has urged the public to remain vigilant against economic frauds and to report such offences to the EOW. Complaints can also be submitted through the Crime Branch’s designated email or helpline, officials added.
