Assam CID Arrests Man in ₹40 Lakh Vehicle Loan Fraud Case

Guwahati: The Assam Police Criminal Investigation Department (CID) has arrested Ramen Saikia alias Jaan Saikia of Birubari in connection with an alleged ₹40 lakh vehicle loan fraud involving Canara Bank branches in greater Guwahati. He was arrested from his residence on October 6.

According to the bank’s complaint, five vehicle loans of ₹8 lakh each were sanctioned in 2023 through the Ulubari and Amingaon branches. The case came to light after the accounts became non-performing assets (NPAs), with an internal inquiry allegedly detecting forged vehicle quotations, registration certificates, insurance documents and other papers. The complaint alleged that Saikia and his associates used the forged documents to obtain the loans.