New Delhi, Sep 1: A case has been registered against two companies for allegedly taking loans to the tune of Rs 120 crore from HDFC Bank by furnishing forged documents, police said on Saturday. According to an FIR lodged with the Delhi Police's Economic Offences Wing in the case, the companies owned by Rash Pal Singh Todd and Mandhir Singh Todd got loans to the tune of around Rs 120 crore using fake and forged documents. "The Todds are people of Indian origin. The fact that they furnished fake forged documents came to light during the physical comprehensive stock audit and verification of the various documents which were submitted to the bank by the accused," the FIR said. Kerala Floods: HDFC Bank to Adopt 30 Villages, Donate Rs 10 Crore.

"The accused submitted balance sheets that showed profits even though the companies had been running in losses for the last four years," it added.

The FIR also said the companies claimed to have stocks in hand when actually they did not have any.

It said the accused companies were enjoying credit facilities from other banks as well and that this had been going on since March this year. The FIR was lodged following a complaint by the bank's Assistant Vice President Sanjay Sharma on Thursday, the police said. According to the complaint, the two companies deal in high-end luxury cars from their showroom and office in Guragon's Sector 53.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)