FAKE VALUATION REPORTS OF THE PROPERTIES ISSUED BY FORGING THE SIGNATURE AND RUBBER STAMP OF A VALUER
A CASE STUDY
The Fatorda police have booked three persons, including an area manager of the branch office of LIC Housing Finance Ltd Margao, in a case pertaining to the forgery of valuation reports of a property used for obtaining loans.
Manojkumar Kodapulli, a resident of Margao, and Menino Xavier, a resident of Raia, have been named as the accused whose property valuation documents were found to be forged, while Hemant Suryawanshi is the area manager of LIC Housing Finance Ltd, Margao, booked as the third accused.
Police sources said that the trio entered into a criminal conspiracy and prepared fake valuation reports of the properties owned by the first two accused by forging the signature and rubber stamp of the architect and panel valuer for LIC Housing Finance Ltd, Joseph Keeranchira.
The forged documents were produced before Margao area office of LIC Housing Finance Ltd, as genuine papers, based on which the area manager fraudulently sanctioned and disbursed loan amounts to the first two accused.
Police sources said that while the actual value of the property of Kodapulli was Rs 1.7 crore, the forged valuation report tagged its value at Rs 4.4 crore, while in the case of Xavier’s property, the value of the property shown in the forged document was Rs 5 crore when its actual value was Rs 3.9 crore. The accused have been booked under Sections 465, 468, 471 and 120-B of the Indian Penal Code and further investigation is underway.
