Legal Question in Criminal Law in India

Dear Sir,
In the year 2008 a Builder has executed Two Gift deeds in his wife's
name and deposited the Gift deeds in a Bank and availed loan.
In the year 2013 he has released the Gift deeds from Bank after
clearing the Loan.
In between in the year 2010, knowingly that there is a lean on the
flats and without clearing the loan he has cancelled the Gift deeds
and sold the flats to a Purchaser and received the sale consideration.
Thereby,he has neither brought to the notice of the Bank about the sale,
nor he has brought to the notice of the Purchaser about the loan he
has availed from the Bank. As such I feel he has cheated both bank as
well as the Purchaser of the flats.
Apart from this he has not declared about the Sale proceed to the
income tax. He has cheated the Income tax by declaring the flats as
Gifted to his wife even today because he is holding the Gift deeds
with him and regularly renewing the Insurance of the flats in his wife
name.
Please clarify whether this builder has done multiple fraud
punishable under Section 420 of IPC.
India | 560094 | Criminal Law

Asked on 10/08/13, 3:39 am

Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

0 users found helpful

0 attorneys agreed

406/417/420 of IPC To know us better, please click on the links below:

http://www.linkedin.com/pub/rajiv-chandhok/33/7b7/82

http://www.lawguru.com/answers/atty_profile/view_attorney_profile/username#more_info

You may also drop a detailed query at [email protected]

JSR/81013

Answered on 10/08/13, 6:54 am

Keywords

Match Any Match All

Country

State

Area of Law