{"id":2990,"date":"2025-07-10T19:24:46","date_gmt":"2025-07-10T19:24:46","guid":{"rendered":"https:\/\/noveltyofsilver.com\/services\/?p=2990"},"modified":"2025-07-10T19:25:13","modified_gmt":"2025-07-10T19:25:13","slug":"fact-2-fraudulent-conversion-of-msme-loan-into-home-loan-insertion-of-criminal-co-borrowers-sabotage-of-foreign-trade","status":"publish","type":"post","link":"https:\/\/noveltyofsilver.com\/services\/fact-2-fraudulent-conversion-of-msme-loan-into-home-loan-insertion-of-criminal-co-borrowers-sabotage-of-foreign-trade\/","title":{"rendered":"Fact 2: Fraudulent Conversion of MSME Loan into Home Loan, Insertion of Criminal Co-Borrowers &amp; Sabotage of Foreign Trade"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Summary:<\/strong><br>Before the formal loan disbursal by ICICI Bank, a deep-rooted financial conspiracy was executed. Under <strong>duress and deception<\/strong>, blank signed and stamped documents were collected from the legitimate MSME borrower and later <strong>forged<\/strong> into a <strong>Home Loan agreement<\/strong>, overriding the original MSME business loan sanctioned for export operations. The <strong>mortgage was never registered<\/strong>, yet ICICI forcibly marked a charge over the borrower\u2019s prime residential property without following any legal due process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In a calculated act of betrayal, <strong>malicious co-borrowers<\/strong>\u2014including <strong>Praveen Choudhary and Rahul Chaudhary<\/strong> (previously expelled from any ownership or property rights)\u2014were <strong>illegally inserted into the loan agreement<\/strong>. These individuals had <strong>no repayment capacity<\/strong>, no connection to the MSME business, and were included solely to <strong>enable a future takeover of the borrower\u2019s collateral property<\/strong> through an internal conspiracy with ICICI officers and a fraudulent advocate, <strong>Sharad Joshi<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Later, these same co-borrowers <strong>secretly filed a closure and One-Time Settlement (OTS) application<\/strong>, using <strong>fake proceedings in SA-339\/2021 before DRT Jaipur<\/strong>, without consent or knowledge of the original MSME borrower. They falsely projected that the <strong>borrower\u2019s elderly mother had voluntarily paid \u20b910,00,000<\/strong> via cheque\u2014<strong>which was forcibly retrieved from her<\/strong>\u2014to give the false impression that she intended to close the loan. This was widely publicized through fake narratives to <strong>defame the MSME borrower<\/strong> as a willful defaulter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The reality:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ICICI Bank <strong>never disbursed the full \u20b92.5 crore loan<\/strong>, releasing only \u20b937 lakhs.<\/li>\n\n\n\n<li>That \u20b937 lakhs was <strong>forcibly withdrawn by the co-borrowers themselves<\/strong>, without the beneficiary&#8217;s control.<\/li>\n\n\n\n<li>These actions were intentionally executed to <strong>sabotage MSME export orders<\/strong>, disrupt production, and damage the long-term business relations with <strong>US and EU-based foreign buyers<\/strong>, who had paid advances for high-value shipments.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The result:<\/strong><br>Severe <strong>financial loss<\/strong>, <strong>emotional trauma<\/strong>, <strong>reputational harm<\/strong>, and <strong>physical injury<\/strong> to the real borrower, caused by criminal misrepresentation and strategic character assassination.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Legal Breach Identified:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Forgery, impersonation, and criminal conspiracy<\/strong> under <strong>IPC Sections 406, 420, 464, 468, 471, 120B<\/strong><\/li>\n\n\n\n<li><strong>Violation of the Indian Contract Act, 1872<\/strong> \u2013 Contracts signed under <strong>coercion<\/strong> and <strong>misrepresentation<\/strong><\/li>\n\n\n\n<li><strong>Illegal OTS application and DRT manipulation<\/strong> under false identities<\/li>\n\n\n\n<li><strong>Defamation and reputational attack<\/strong>, targeting MSME credibility with global buyers<\/li>\n\n\n\n<li><strong>Violation of FEMA<\/strong>, Export Obligations, and RBI\u2019s MSME Finance Guidelines<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Recommended Legal Action:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>File criminal complaints against <strong>Rahul Chaudhary, Praveen Choudhary, Sharad Joshi, and ICICI officials<\/strong> involved<\/li>\n\n\n\n<li>Seek <strong>forensic verification<\/strong> of all loan and DRT documents, including SA-339\/2021<\/li>\n\n\n\n<li>File an application under <strong>Section 17 of the SARFAESI Act<\/strong> to reverse illegal mortgage creation<\/li>\n\n\n\n<li>Move the <strong>DRT and Civil Court<\/strong> to nullify the fraudulent OTS and restore property rights<\/li>\n\n\n\n<li>File defamation and damages suit for <strong>international trade loss<\/strong><\/li>\n\n\n\n<li>Submit complaints to <strong>RBI, MSME Ministry, Ministry of Commerce (DGFT), and Indian Embassy Legal Cells in USA\/EU<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Summary:Before the formal loan disbursal by ICICI Bank, a deep-rooted financial conspiracy was executed. Under duress and deception, blank signed and stamped documents were collected from the legitimate MSME borrower and later forged into a Home Loan agreement, overriding the original MSME business loan sanctioned for export operations. The mortgage was never registered, yet ICICI [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[72,36],"tags":[66,51,60,62,45,61],"class_list":["post-2990","post","type-post","status-publish","format-standard","hentry","category-legal-updates","category-loss-of-clients-opportunities","tag-drt-compensation","tag-ethical-trade-recovery","tag-export-claim-filing","tag-foreign-buyer-legal-help","tag-icici-bank-fraud","tag-lost-order-recovery"],"_links":{"self":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts\/2990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/comments?post=2990"}],"version-history":[{"count":2,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts\/2990\/revisions"}],"predecessor-version":[{"id":2992,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/posts\/2990\/revisions\/2992"}],"wp:attachment":[{"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/media?parent=2990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/categories?post=2990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noveltyofsilver.com\/services\/wp-json\/wp\/v2\/tags?post=2990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}