3 directors of pvt firm arrested for Rs 3.9 crore loan scam, cops recover Rs 1.5 crore cash
Times of India | 16 July 2026
Kolkata: The Special Investigation Team (SIT) of the Detective Department, assisted by the anti-bank fraud section, arrested three directors of a private firm on Tuesday night for orchestrating a Rs 3.9 crore loan scam.
During the raid at one of the accused’s residences on Nanda Lal Chatterjee Lane in Howrah, cops seized more than Rs 1.5 crore in cash, said additional CP (crime) Kunal Agarwal.
The arrested individuals include Tanmoy Roy, and two brothers — Manas Roy and Tapas Roy.
Police are looking for two accomplices, Snighda Roy and Prashant Chowdhury. All five served as directors and guarantors for M/s Linings Ventures Private Limited, operating from a commercial space in Dumurjala, Howrah.
According to cops, the criminal conspiracy originated in 2018. The accused allegedly fabricated a building sanction plan, falsely attributing it to the Howrah Municipal Corporation under a fake sanction number. The directors then presented these documents as security before Punjab National Bank (PNB) to obtain a massive cash credit loan facility totaling Rs 3.9 crore.
Once the amount was sanctioned and disbursed by the complainant bank, the accused defaulted on their commitments. They failed to deposit regular monthly EMIs and refused to refund the principal amount within the stipulated time.
“Instead, they systematically siphoned the entire loan amount into the accounts of interconnected sister concerns and shadow companies, including Adams Appliances, Noxx & Chef’s Deck, Adamas Appliances and Electronics, and Adamas Furniture, ensuring illicit wrongful gains for themselves,” the additional CP said.