The accused allegedly colluded with seven customers to fraudulently cancel the hypothecation of vehicles financed by the finance firm by submitting fake NOCs at the Regional Transport Office. | Photo Credit: File photo
Three people, including two employees of an associated dealership of a private finance firm, have been arrested for allegedly cheating the firm of ₹1.27 crore by using forged No Objection Certificates (NOCs) to transfer vehicles and secure fresh loans from other finance companies.
According to a press release issued by the Tumakuru district police on Wednesday, the accused allegedly colluded with seven customers to fraudulently cancel the hypothecation of vehicles financed by the finance firm by submitting fake NOCs at the Regional Transport Office (RTO).
After getting the vehicles’ registration certificates (RCs) transferred to other persons’ names, they allegedly obtained fresh loans against the same vehicles from two other finance companies, causing a loss of approximately ₹1.27 crore to the first firm.
Published - October 28, 2026 08:43 pm IST
Source: The Hindu · The Hindu Bureau
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