Delhi property loan fraud: Mastermind arrested for ₹3 crore Protium Finance scam
Synopsis
A Delhi businessman ran a ₹3 crore property loan fraud using a deceased impersonator, two forged sale deeds of the same property executed within 25 days, and shell companies to siphon funds from Protium Finance. The mastermind evaded arrest by constantly shifting residences — until EOW surveillance caught up with him in Laxmi Nagar.
Key Takeaways
Maneesh Kumar , 59 , was arrested by Delhi Police's Economic Offences Wing on 4 August 2025 from Laxmi Nagar, East Delhi .
He allegedly defrauded Protium Finance Ltd of ₹3 crore using forged property documents and impersonation.
A deceased woman was used as an impersonator to execute two fraudulent sale deeds of the same property within 25 days .
Kumar created fictitious firms — Global Finance and Bankey Bihari Enterprises — to siphon off loan proceeds.
Multiple mobile phones, SIM cards, digital signature certificates, and cheque books were recovered during the arrest.
Police have advised property owners to regularly inspect their assets and urged lenders to strengthen due diligence on vacant-property loans.
Delhi Police's Economic Offences Wing (EOW) has arrested Maneesh Kumar, 59, a businessman and loan facilitator from East Delhi's Laxmi Nagar, for allegedly orchestrating a ₹3 crore property loan fraud against Protium Finance Ltd. Kumar was apprehended from his office on 4 August 2025, following sustained technical surveillance that tracked him through multiple residences as he attempted to evade arrest.
How the Fraud Was Executed
According to Additional Commissioner of Police (EOW) Ravi Kumar Singh, the scheme centred on a property located at D-Block, Anand Vihar, Delhi. A fraudulent sale deed dated 9 November 2022 was executed using forged documents by an impersonator — a woman, since deceased — who falsely presented herself as the genuine property owner.
Critically, the impersonator executed two fraudulent sale deeds of the same property within a span of 25 days, enabling the accused to approach multiple financial institutions for loans. Investigators established that Kumar, who projected himself as a bona fide purchaser, was an active conspirator throughout.
Shell Companies and Forged Documents
Kumar, the proprietor of Global Trading Company, allegedly created fictitious firms — including Global Finance and Bankey Bihari Enterprises — to channel and siphon off the fraudulently obtained loan proceeds. Investigators found that he also falsely listed a deceased woman as his spouse and co-applicant in the loan documents, whereas his actual wife is a different person.
The case was registered as FIR 78/25 under Sections 419, 420, 467, 468, 471, and 120-B IPC at Police Station EOW, New Delhi, on 14 July 2025, following a complaint by Lovleen Manchanda, authorised representative of Protium Finance Ltd.
Evidence Recovered During Arrest
During the search conducted at the time of arrest, investigators recovered multiple mobile phones, SIM cards, digital signature certificates, cheque books from various banks, POS machines, and other incriminating documents from Kumar's possession. Investigators noted that he had been frequently changing his residence to avoid detection before being traced to a rented accommodation in Laxmi Nagar.
Warning to Property Owners and Lenders
Additional Commissioner of Police Ravi Kumar Singh issued a public advisory urging property owners to conduct regular visits to their properties and not leave them unattended for extended periods. He also cautioned banks and financial institutions to exercise strict due diligence before disbursing loans against properties — particularly those that have been vacant for prolonged periods.
Further investigation is underway to identify other accused persons and trace the full proceeds of the crime, police said.
Point of View
A deceased impersonator, and two forged sale deeds were enough to extract ₹3 crore from a regulated finance company. The use of shell firms to layer and siphon proceeds suggests this was not opportunistic but structured fraud. What is striking is how long it took to make an arrest — the FIR was registered on 14 July and the arrest came three weeks later, during which the accused was actively shifting residences. For lenders, the advisory from EOW is overdue: physical verification of property occupancy and independent title checks must become non-negotiable, not optional, for any property loan disbursement.
NationPress
5 Aug 2026
Frequently Asked Questions
Who is Maneesh Kumar and why was he arrested?
Maneesh Kumar, 59, is a Delhi-based businessman and loan facilitator arrested by the Economic Offences Wing of Delhi Police on 4 August 2025. He is accused of masterminding a ₹3 crore property loan fraud against Protium Finance Ltd using forged documents, impersonation, and shell companies.
How was the ₹3 crore property loan fraud carried out?
The fraud involved a deceased impersonator who posed as the genuine owner of a property at D-Block, Anand Vihar, Delhi, and executed two fraudulent sale deeds of the same property within 25 days. Kumar used these forged documents to secure a ₹3 crore housing loan from Protium Finance Ltd, then allegedly siphoned the proceeds through fictitious firms.
What charges has Maneesh Kumar been booked under?
Kumar has been booked under Sections 419, 420, 467, 468, 471, and 120-B of the IPC, registered as FIR 78/25 at Police Station EOW, New Delhi, on 14 July 2025.
What evidence was recovered from the accused?
During the arrest, police recovered multiple mobile phones, SIM cards, digital signature certificates, cheque books from various banks, POS machines, and other incriminating documents from Maneesh Kumar's possession.
What precautions have Delhi Police advised for property owners and lenders?
Additional Commissioner of Police Ravi Kumar Singh has urged property owners to regularly visit and verify the status of their properties, especially if left vacant. He has also called on banks and financial institutions to apply rigorous due diligence before disbursing loans against properties that have been unoccupied for extended periods.
