CA among two held in 9-crore bank loan scam

New Delhi, May 11, 2025

A Chartered Accountant and a direct selling agent (DSA) were arrested by Delhi Police for allegedly defrauding a private bank of Rs 9 crore by using forged financial documents to secure business loans.

According to police, the accused, Rishi Chhabra (46), a DSA from Geeta Colony and Himanshu Rastogi (33), a CA from east Azad Nagar, were arrested on May 9. Both are currently out on anticipatory bail granted by Delhi High Court. The third accused, Anshul Ahuja, a former credit manager at the private bank, was arrested earlier and is in judicial custody.

"The scam came to light after the bank's internal audit flagged a pattern of defaults in business instalment loans processed by Ahuja between March 2020 and March 2021. A detailed review found forged GST returns in 71 cases and fake bank statements in 39," said additional commissioner of police (EOW) Amurtha Guguloth.

Ahuja informed Rastogi whenever a loan applicant was found ineligible. Rastogi then allegedly create fake financial documents, which were routed through Chhabra to secure loans for ineligible borrowers. On Ahuja's recommendation, the private bank sanctioned and disbursed the loans, most of which turned into NPAs as borrowers defaulted on repayments, police said.

[The Times of India]