Inside the Canara Bank branch at the Bandra-Kurla-Complex (BKC), fraudsters posing as a bank manager and an agent cheated a real estate developer of Rs 11 lakh in cash on the pretext of sanctioning a Rs 100 crore loan.

After exiting the bank, the accused allegedly wore a jacket with “police” written on it in order to escape. Following the incident, the BKC police have registered a case and have launched an investigation into the matter. Police have identified the accused duo as Jay Shah and Sanjay Pandey. Police said that the FIR was registered based on a complaint filed by Seema Hoval, 49, an employee of Urban Finance Private Limited, who prepares loan files for approvals from banks. According to the police, the incident occurred on December 11.