Industrialist held for land fraud

Published: 16th June 2012 08:56 AM  |   Last Updated: 16th June 2012 08:56 AM   |  A+A-

An industrialist and three of his accomplices were arrested here on Friday for allegedly usurping his estranged wife’s property worth Rs 3 crore. He was also accused of using the land documents, which he forged, to obtain a bank loan of `4.5 crore.

According to police, S Nandhini (33), a resident of VPMS Nagar in Vellakovil,  Kangayam Taluk, married Raju (41), an industrialist, from Aruljothi Garden in Tirupur nine years ago. Raju ran a garment manufacturing unit in Tirupur town along with his partners Vijayakumar, Harishankar and Krishnakumar, all hailing from same area.

Following their marriage,  Nandhini, who owned a 5.5 cent property at Nallur near Tirupur, purchased two plots   measuring 1.26 acres and 76 cents respectively, in the same area. In 2010, the couple got a divorce and Nandini was living with her parents ever since.

A year later, Raju, who wanted to secure a loan for his business with a bank in Tirupur, planned to forge the documents of his estranged wife’s property to provide as security for the loan.

He then opened a bank account for his friend Banumathi, by claiming that she was Nandhini, and managed to obtain a release deed for his wife’s property by providing the details of the fictitious account.

Impersonating Banumathi as the owner of the property, he also obtained a power of attorney for it in Krishnakumar’s name with the help of Harishankar and Vijayakumar.

Using the forged documents, they secured a Rs 4.5 crore loan and also took over Nandhini’s property worth Rs 3 crore. Recently, Nandhini found out about the fraud and petitioned Superintendent of  Police A Asra Garg. Following investigations, police arrested  Raju, Harishankar, Vijayayakumar and Krishnakumar. A hunt was on for Banumathi.

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