New Delhi, Aug 29 (PTI) A 38-year-old man was arrested for allegedly taking loans from banks by producing forged documents of mortgaged properties, the police said today.

Amit Verma was already declared a proclaimed offender in four cases and non-bailable warrants had been issued against him in six cases pertaining to financing single properties multiple times, they said.

Based on a tip-off, a trap was laid at the hide out of the accused at Dayanand Block in Shakarpur yesterday. Subsequently, the accused was arrested and five mobile phones and a car was seized from his possession, said Rajiv Ranjan, Additional Commissioner of Police (crime).

During interrogation, Verma told the police that he along with his associates Nitin Arora, Sandeep Khera, Ishima Arora and Vinod Arora used to create forged documents of flats and properties which were already mortgaged with different banks, he said.

When the accused could not pay the loan instalments following which the bank officials visited the site in question, they discovered that other banks too have pasted their notices mentioning loan and property being mortgaged with their bank, the senior officer said.

When the concerned banks approached the CBI and the police they learnt that approximately Rs 44 crore had been taken as loan by them by mortgaging the same property, the senior officer added.

Subsequently, 10 cases were registered by the CBI while two were registered by the Economic Offences Wing (EOW), he said.

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