A shocking scam has unfolded in Bengaluru, India, where a Deputy Commissioner of Police (DCP) has found himself at the center of a property dispute. The DCP, whose name has not been revealed, had recently purchased a flat from a bank, only to discover that another bank was also claiming ownership of the same property.
According to reports, the DCP had bought the flat from ICICI Bank, which had taken possession of the property after the original owner defaulted on a loan. However, soon after the purchase, the DCP received a notice from Axis Bank, claiming that they had a prior claim on the property. Axis Bank alleged that the original owner had also taken a loan from them, and that the property was mortgaged to their bank.
The DCP was shocked and surprised by the sudden turn of events, and has since approached the police and the banking authorities to resolve the dispute. An investigation has been launched, and it has been revealed that the original owner had indeed taken loans from multiple banks, using the same property as collateral. This has raised questions about the due diligence carried out by the banks before sanctioning the loans.
The scam has also highlighted the lack of coordination between banks and the need for a more robust system to track and verify property ownership. In India, it is not uncommon for property owners to take multiple loans from different banks, using the same property as collateral. However, this can lead to disputes and confusion, as in this case, where multiple banks are claiming ownership of the same property.
The Bengaluru police have launched an investigation into the matter, and are looking into the role of the banks and the original owner in the scam. The DCP has also approached the banking authorities, seeking their assistance in resolving the dispute. The case has sparked outrage and concern among the public, with many questioning the integrity of the banking system and the ease with which such scams can be perpetrated.
The incident has also raised questions about the role of regulatory bodies, such as the Reserve Bank of India (RBI), in overseeing the banking sector and preventing such scams. The RBI has been criticized for not doing enough to prevent such incidents, and for not having a robust system in place to track and verify property ownership. As the investigation continues, it remains to be seen how the dispute will be resolved, and what measures will be taken to prevent such scams in the future.