Surat: Athwalines police have registered an FIR against the branch manager of Axis Bank, Vesu branch, who allegedly defrauded Bank of India of Rs 2.20 crore by withholding mortgage property papers.

As per the details, Siddhi, wife of Uttam Dasani and proprietor of Shri Anand Impex in Kadodara, had a cash credit account of Rs 2.20 crore with Axis Bank. Due to high interest rates, she approached the Chauta Pul branch of Bank of India to take over the loan. After completing the necessary procedures, Bank of India sanctioned a loan of Rs 7.45 crore, which was used to pay off the Axis Bank loan.

Despite the payment, Axis Bank’s branch manager, Rahul Patel, failed to close the loan account and did not hand over the mortgage property documents to Bank of India. As a result, Siddhi and Uttam Dasani withdrew the amount from the Axis Bank account. Bank of India requested the return of the mortgage documents, but they were not provided.

Meanwhile, Siddhi and Uttam Dasani also defaulted on further payments. The alleged fraud by the Axis Bank officer led to a financial loss of Rs 2.20 crore to the government. Consequently, the branch manager of Bank of India, located on Ghoddod Road, filed a complaint of fraud against Rahul Patel, accusing him of deliberate misconduct. DeshGujarat