Ludhiana: Man booked for encashing fixed deposit attached as guarantee

A man from Fazilka was booked after he encashed a fixed deposit attached as a guarantee to secure his bike on “supurdari” from court, police said Friday.

In response to the court’s orders, an FIR was lodged against the accused at Division number 8 police station on Thursday.

According to ASI Sunil Kumar, the investigating officer for the case, the man, Ajay Kumar from Dabwala Kalan village of Fazilka, had initially lost his bike to vehicle lifters. He had filed a complaint with the local police. Meanwhile, the Division number 8 police had busted a gang of miscreants involved in vehicle lifting and recovered his bike.

Upon informing Ajay about the recovery of his stolen vehicle, the police advised him to obtain his bike through the legal process of ‘supurdari’ from court. In compliance with the court’s instructions, the accused received his bike by attaching his fixed deposit as a guarantee and even submitted an affidavit ensuring that he would not encash the FD until the case would be disposed off.

However, Ajay encashed the fixed deposit on the very next day. The bank promptly reported this occurrence to the court, leading to the court to order filing of an FIR against the accused.

The ASI added that a case under section 420 (cheating and dishonestly inducing delivery of property) of the IPC has been lodged against the accused.