A fraud case has been filed against Century Commercial Bank and Greenhill City, a housing company, for allegedly embezzling over Rs 10 million while selling a housing unit.
According to Beema Post, the bank, the housing company, and Shanta Sharma signed an agreement under which Century provided Greenhill a loan of Rs 13.1 million on 13 January 2019 for Sharma to buy the house, valued at Rs 32.2 million. Sharma paid Rs 10.3 million as an advance in cash. The bank, which handed over the loan amount to Greenhill, made Sharma pay the monthly installments for it.
On 21 October 2021, Sharma received a letter from Greenhill saying that she has only paid Rs 10.3 million for her house and that she needs to pay up the rest of the amount. The company, in its letter, didn’t acknowledge its receipt of Rs 13.1 million from the bank.
The victim now says that Century and Greenhill have colluded to embezzle the Rs 13.1 million the bank issued to the company following the agreement on January 13. Greenhill has also not completed all construction-related works of the house.
Sharma recently moved the high court seeking action against the bank and the company stating that her repeated complaints filed at the central bank remained unheard.
This is not the first time that Century has been involved in a controversy. Recently, it lost Rs 50 million due to unscrupulous business practices by signing a remittance agreement with a mysterious overseas company, but the central bank is yet to take action against its employees