Govt bank alleges ₹69-cr loan fraud, 3 Ludhiana bizmen booked

Indian Bank alleged a ₹68.91 crore loan fraud by three Ludhiana businessmen: Dharampal Jain, Jainender Jain, and Anju Jain.

Dharampal Jain and Jainender Jain are partners in Shree Vallabh Exports and Shree Vallabh Overseas; Anju Jain is proprietor of A and J Impex.

The bank accused them of cheating, criminal breach of trust, and financial irregularities, causing the loss as of March 31, 2026.

The FIR also names two unidentified private individuals and two unidentified public servants for alleged involvement.

Police registered the FIR under IPC Sections 406, 420, and 120-B and are investigating loan documents and transactions.