Ghaziabad, Aug 30 (PTI) Three people have been arrested and two others have been booked for allegedly getting a loan of Rs 4 crore from Punjab National Bank in a fraudulent manner, police said on Monday.

The arrested accused have been identified as Lakshya Tanwar and his accomplices Shivam and his father Sunil Kumar, Superintendent of Police (City-1) Nipun Agarwal said.

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Besides, bank manager Utkarsh Kumar, deputy manager Priyadarshini and some other employees of the Punjab National Bank have been booked in this connection, he said.

According to police, Tanwar fraudulently got some properties transferred in the name of his accomplices. He then mortgaged the properties and obtained the loan of Rs 4 crore, four times the mortgaged properties.

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Efforts are on to arrest the erring bank officials, they added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)