J&K Crime Branch charges couple in ₹3.55 crore Sainik Colony property fraud
Synopsis
The J&K Crime Branch's Economic Offences Wing has chargesheeted a Jammu couple for allegedly concealing an existing bank mortgage while selling a ₹3.55 crore property in Sainik Colony to a local hospital director — money that the buyer had already transferred in full before the deception came to light.
Key Takeaways
The EOW, J&K Crime Branch filed a charge sheet on 7 November 2026 against Peary Lal Koul and Nirmala Koul of Sainik Colony, Jammu .
The accused allegedly sold a residential property for ₹3.55 crore while concealing an existing mortgage with Jammu and Kashmir Bank .
Complainant Dr Ajay Wakhloo , Director of Ankur Maitrika Hospital , had signed an agreement to purchase the property on 21 February 2025 .
The full amount of ₹3.55 crore was transferred via bank transactions, cheques, and cash before the fraud was discovered.
Charges have been filed under Sections 318 and 61(2) of the Bharatiya Nyaya Sanhita (BNS) ; the case now moves to trial.
The Economic Offences Wing (EOW) of the J&K Crime Branch, Jammu, has filed a charge sheet against a couple accused of defrauding a local doctor of ₹3.55 crore in a property deal involving a residential plot and house in Sainik Colony, Jammu. The charge sheet was filed before a competent court on Saturday, 7 November 2026, under Sections 318 and 61(2) of the Bharatiya Nyaya Sanhita (BNS).
The Accused and the Alleged Fraud
The accused have been identified as Peary Lal Koul and his wife Nirmala Koul, both residents of Sainik Colony, Jammu. The case originated from a complaint filed by Dr Ajay Wakhloo, Director of Ankur Maitrika Hospital, who alleged that the couple had agreed to sell him a residential plot along with a constructed house in Sainik Colony for ₹3.55 crore. A formal agreement to sell was executed on 21 February 2025.
Dr Wakhloo subsequently alleged that the accused had concealed a critical fact: the property in question had already been mortgaged with the Jammu and Kashmir Bank against outstanding loan liabilities. The complainant contended he was kept in the dark about this encumbrance at the time of entering into the agreement.
How the Money Changed Hands
Investigators found that Dr Wakhloo had transferred approximately ₹3.55 crore to the accused through a combination of bank transactions, cheques, and cash — ostensibly to facilitate the property purchase and to help clear the existing mortgage. The concealment of the mortgage allegedly made the transaction fraudulent from the outset.
Investigation and Charge Sheet
The investigation was led by DySP Vishal Sharma of the EOW. After gathering oral testimony, documentary records, and financial evidence, the wing formally filed the charge sheet before the competent court for judicial determination. The EOW handles high-profile economic offences requiring dedicated investigative teams and technological support — crimes that routine territorial police units, occupied with law-and-order and anti-terror duties in the union territory, are not structured to pursue full-time.
Significance and What Comes Next
This case is part of a broader pattern of property-related financial offences in Jammu, where real estate transactions — sometimes involving mortgaged or disputed assets — have drawn scrutiny from economic offences units. The charge sheet now moves the case to the trial stage, where a court will determine criminal liability. Peary Lal Koul and Nirmala Koul face prosecution under fraud and conspiracy provisions of the BNS. The court proceedings will be closely watched by victims of similar property deals in the region.
Point of View
Consumed by security operations, leaves economic crime chronically under-investigated until a specialised wing steps in. Courts will now have to determine intent, but the broader question — whether J&K's property registration ecosystem flags existing mortgages automatically — deserves regulatory attention beyond this individual case.
NationPress
7 Nov 2026
Frequently Asked Questions
Who has been chargesheeted in the Jammu property fraud case?
Peary Lal Koul and his wife Nirmala Koul , residents of Sainik Colony, Jammu, have been chargesheeted by the Economic Offences Wing of the J&K Crime Branch in a ₹3.55 crore property fraud case. The charge sheet was filed before a competent court on 7 November 2026.
What is the alleged fraud in the Sainik Colony property case?
The couple allegedly agreed to sell a residential plot and house in Sainik Colony to Dr Ajay Wakhloo for ₹3.55 crore while concealing that the property was already mortgaged with Jammu and Kashmir Bank. Dr Wakhloo transferred the full amount before discovering the encumbrance.
Under which sections has the charge sheet been filed?
The charge sheet has been filed under Sections 318 and 61(2) of the Bharatiya Nyaya Sanhita (BNS), which cover cheating and criminal conspiracy provisions respectively. The case will now be adjudicated by a competent court.
Who investigated the case?
The investigation was led by DySP Vishal Sharma of the Economic Offences Wing, Jammu. The EOW gathered oral, documentary, and financial evidence before filing the charge sheet.
Why did the EOW handle this case instead of regular police?
The EOW handles high-profile economic offences that require dedicated investigative teams and technological support. Territorial police in J&K are primarily deployed for law-and-order duties and anti-terror operations, leaving them without the bandwidth to pursue complex financial crimes full-time.
