Archive · 19 Jun 2025
Bank Disputes Senior Citizen's ₹24 Lakh Loan Fraud Allegation
A senior citizen, Shubhlaxmi Shetty, says a bank helped someone steal her money by moving her loan funds.
The bank, Bharat Co-operative Bank, says it's not true.
They claim she asked them to transfer the money to Naveen Shetty, and she repaid the loan later.
She complained, but the bank says everything was done correctly and is a personal dispute.
The court asked the police to investigate.
Bharat Co-operative Bank denies involvement in a loan dispute with Shubhlaxmi Shetty.
Shubhlaxmi Shetty alleges fraudulent transfer of her ₹24 lakh loan.
The bank states the loan was transferred at Shetty's request to Naveen Shetty.
The loan was repaid within ten months, and the account was closed in 2020.
A complaint to the Banking Ombudsman was rejected, but a court case is ongoing.
- Who
- Shubhlaxmi Shetty, Naveen Shetty, Bharat Co-operative Bank and its staff.
- What
- Dispute over a ₹24 lakh loan allegedly fraudulently transferred.
- When
- Loan account opened; loan repaid and closed in 2020; complaint filed to the Ombudsman, rejected in 2023; court order in May 2024.
- Where
- Mulund (W) branch of Bharat Co-operative Bank, Mumbai.
- Why
- Shubhlaxmi Shetty alleges fraud; the bank claims a personal dispute with Naveen Shetty is the cause of the complaint.
Shubhlaxmi Shetty's Perspective
Bharat Co-operative Bank's Perspective
Loan Transfer
Shubhlaxmi Shetty's Perspective
Claims fraudulent transfer of her loan to another account without her consent.
Bharat Co-operative Bank's Perspective
The bank states the loan was transferred as per the customer's written instruction and the transaction was legitimate.
- Complainant
- Shubhlaxmi Shetty
- Loan Amount
- ₹24 lakh
- Bank
- Bharat Co-operative Bank
- Loan Recipient
- Naveen Shetty
- Loan Repaid
- Within 10 months
- Ombudsman Decision
- Rejected
- Court Order
- May 2024 - Police Investigation