RTO among three booked for helping to sell luxury car hypothecated to Bank

RTO among three booked for helping to sell luxury car hypothecated to Bank

March 7, 2023

Mysore/Mysuru: Cases have been registered against three persons including the Bengaluru West Regional Transport Officer (RTO) for helping to sell a luxury car which was hypothecated to a Bank.

T. Madhumohan, a resident of J.P. Nagar in Bengaluru, had obtained a loan of Rs. 41.25 lakh from Bank of Baroda in Mysuru on Mar. 15, 2022 and had bought a Toyota Fortuner SUV (KA-05-ND-9740) and the SUV was hypothecated to Bank of Baroda.

Madhumohan had to pay a total of Rs. 42,61,918 to the Bank and despite the SUV being hypothecated to the Bank, Madhumohan, hiding the fact has sold the SUV to one Ishaq Ahmed Khan.

Meanwhile, Bank of Baroda, Shivarmpet Branch Manager Y. Prashanth, alleging that the Bank has been cheated has lodged a complaint against Bengaluru West RTO, Madhumohan and Ishaq Ahmed Khan.

Devaraja Police, who have registered a case under IPC Sections 34, 406 and 420 are investigating.


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