By NSB.News
Noida : Noida Police have registered an FIR against five officials of Punjab National Bank (PNB), including the circle head, zonal manager and branch manager, on charges of cheating, forgery and criminal conspiracy, following court directions. The case is based on a complaint filed by hotelier Anil Babbar (66), who has alleged that bank officials conspired to unlawfully take over his hotel property valued at around Rs 60 crore.
According to the complaint, Babbar had taken a Rs 9.5 crore term loan in 2013 from a PNB branch in Haridwar for purchasing and operating a hotel, at an agreed interest rate of 9% per annum. He claimed that by 2016, he had repaid nearly Rs 13 crore. Despite this, the bank allegedly raised the interest rate to 15% and showed an additional outstanding of about Rs 5 crore.
Babbar alleged that despite seeking details through RTI, he did not receive clear answers. In 2019, PNB reportedly admitted part of the error and refunded Rs 30.50 lakh, but the remaining disputed amount was not corrected. He further alleged that bank officials deliberately undervalued his hotel, showing its value as Rs 23 crore instead of the actual Rs 60 crore, and reduced the recorded built-up area to facilitate a distress sale under the SARFAESI Act.
The complainant also approached the Debt Recovery Tribunal (DRT) but claimed he received no relief and continued to face threats of auction after being declared a defaulter. He further alleged that his risk rating was changed nearly 15 times in six years, far more frequently than permitted, and that loan documents were tampered with.
Police said the investigation is underway to ascertain the role of the accused officials and whether similar practices were used in other cases. PNB has not issued any official statement on the matter so far.