Sikkim: Couple accused of defrauding UCO bank in Namchi, flees

A case of financial fraud has come to light in Namchi, Sikkim where a couple is accused of cheating UCO Bank by disposing of hypothecated business assets without permission and fleeing from the town. The accused have been identified as Raj Kapur Kumar and his wife, Sulekha Kumari, both residents of Gangyap Ward, Jorethang Road, Namchi.

The incident came to light when Sub-Inspector Siddarth Subba of Namchi Police Station received a written FIR at around 5:01 p.m. on June 13, 2025, from Mr. Javed Akhtar, Branch Head of UCO Bank Namchi. The bank official reported fraudulent actions by the couple, who had availed financial assistance under two schemes—₹10 lakh under the UCO Udyog Bandhu Scheme on May 12, 2023, and ₹5 lakh as a cash credit facility under the Mudra Loan Scheme.

According to the complaint, the borrowers had pledged stocks and machinery as collateral to secure the loans. However, they defaulted on repayments and the loans were declared as Non-Performing Assets (NPA) on April 30, 2025. Upon further inspection by the bank, it was found that the assets were missing, and the borrowers were untraceable.

The police enquiry, initiated on the basis of the complaint, revealed that the couple sold the hypothecated assets—including machinery and stocks—to unknown buyers in May 2025 without obtaining any No Objection Certificate (NOC) from the bank. This act is a direct violation of the loan agreement terms. The bank confirmed that no records or receipts of the sale were submitted, and the assets were not found at the business premises during inspection.

The neighbours of the accused confirmed to the police that the couple had abruptly vacated their rented premises in early February 2025. Their current location remains unknown, but their permanent address is believed to be in Sukhiai village, West Champaran, Bihar, which is yet to be verified by the authorities.

Despite several reminders and notices, the accused did not attempt to repay or settle the outstanding dues before fleeing. The enquiry clearly indicates a deliberate and planned effort by the accused to cheat the bank, making it a case of financial fraud with criminal intent.

An FIR numbered 22/2025 has been registered under Sections 314, 316(2), 318(3), and 3(5) of the Bharatiya Nyaya Sanhita (BNS), 2023. So far, no arrests have been made, and the case remains under active investigation.