Rajkot: Nilambaug police have registered an FIR against six individuals, including four loan beneficiaries and two bank agents, in connection with a Rs 1.35 crore fraud at a nationalised bank in Bhavnagar.The complaint, filed by Kalpesh, the bank’s assistant general manager, states that the accused conspired to divert funds sanctioned under the government’s PMEGP (Prime Minister’s Employment Generation Programme) scheme, which provides financial support for small business startups.The four borrowers — Bhumi Pandya, Kiran Rathod, Jalpa Shah and Jagruti Lalwani — allegedly colluded with bank agents Bharat Advani and Sunil Haseja to submit fake bills and secure term loans and cash credit facilities. The funds were reportedly not used for machinery or stock, as claimed in the loan applications.The fraud came to light when the borrowers defaulted on repayments. Surprise inspections at the designated business premises revealed no machinery or stock, and the accounts turned into non-performing assets (NPAs) between Feb and Oct 2025.The FIR has been registered under BNS sections 318 (4), 336 (2), 336 (3), 338, 340 (2), and 61 (2).
