Finance firm owner booked for forgery and cheating under Bharatiya Nyaya Sanhita
Thane: A Navi Mumbai-based doctor has reportedly been cheated of ₹21 lakh by the proprietor of a Mumbai-based finance firm who falsely promised to secure a ₹3 crore loan through multiple banks. The accused, Chetan Panchal, is now facing charges of cheating and forgery under various sections of the Bharatiya Nyaya Sanhita (BNS), police officials confirmed on Saturday.
The incident came to light after the doctor, in need of a substantial loan, approached Panchal—who posed as a financial facilitator claiming strong connections with multiple banks.
Fabricated Loan Documents and Commission Fraud
According to police reports, Panchal collected ₹21 lakh as commission over a period of time, assuring the doctor of a confirmed ₹3 crore loan. To support his claim, Panchal even shared a forged loan sanction letter, purportedly from a reputed bank.
“The document turned out to be fabricated, and by the time the complainant realized the scam, the accused had already taken the full commission amount,” said an investigating officer.
The case has been filed under:
- Section 318(4) – Cheating
- Section 336(2) and 336(3) – Forgery
under the Bharatiya Nyaya Sanhita (BNS).
Accused on the Run, Probe Underway
Police have launched a search operation to trace the accused, who is currently absconding. Investigations are ongoing to determine if others were involved in the fraudulent operation.
Similar Case Reported Recently
This case follows another major incident where a city-based doctor was defrauded of ₹2.9 crore in a digital arrest scam. The scam, executed by international cybercriminals, was uncovered by the Tamil Nadu Cyber Crime Wing. Authorities rescued the victim after detecting suspicious cyber activity, highlighting the growing threat of tech-enabled financial frauds targeting medical professionals.
