J&K Crime Branch Chargesheets Couple in Alleged Rs 3.55 Crore Property Fraud

The accused have been identified as Peary Lal Koul and his wife, Nirmala Koul, both residents of Sainik Colony. The chargesheet was filed before the competent court under Sections 318 and 61(2) of the Bharatiya Nyaya Sanhita (BNS).

According to a Crime Branch statement issued on Saturday, the case originated from a complaint filed by Dr Ajay Wakhloo, Director of Ankur Maitrika Hospital.

The complainant alleged that the couple had agreed to sell him a residential plot along with a constructed house in Sainik Colony for Rs 3.55 crore. An agreement to sell the property was signed on February 21, 2025.

However, Wakhloo subsequently alleged that the property had already been mortgaged with Jammu and Kashmir Bank against outstanding loan liabilities, a detail that the accused had allegedly concealed during the transaction.

Investigation traces Rs 3.55 crore in payments

The investigation, led by Deputy Superintendent of Police Vishal Sharma, found that the complainant had transferred approximately Rs 3.55 crore through bank transactions, cheques and cash in connection with the deal and to facilitate the clearance of the mortgage, the Crime Branch said.

After collecting oral, documentary and financial evidence, the EOW submitted the chargesheet before the competent court for judicial examination.

The Crime Branch said the EOW handles complex economic offences requiring specialised investigators, technological support and dedicated teams. It added that territorial police units in Jammu and Kashmir are primarily engaged in law-and-order duties and counter-terrorism operations, making specialised investigation teams necessary for such cases.