Noida, Jan. 22 -- Noida Police have arrested three persons for allegedly cheating banks by using forged documents to fraudulently obtain vehicle loans, officials said on Wednesday. The accused have been identified as Amit Gupta, 44, Anurag Singh, 27, and Naveen Bhavri, 48, police said. They were arrested on Tuesday night by the Phase 2 police along with the Crisis Response Team (CRT). According to police, the accused created fake identities using forged Aadhaar cards, PAN cards and voter ID cards to open bank accounts and get vehicle loans. "After obtaining financing for the vehicles, they allegedly sold them at lower prices in the second-hand market," said Vindhyachal Tiwari, station house officer (SHO) of Phase-2 police station. Police said five luxury four-wheelers were involved in the case, including a Thar, Grand Vitara, Kia Seltos, Mahindra Scorpio and an Urban Cruiser Taisor. A total of 28 forged documents, including Aadhaar cards, PAN cards, voter ID cards and registration certificates (RCs) with different names and addresses, were recovered. "The total value of the vehicles involved is estimated to be around Rs.1 crore," said DCP Central Noida Shakti Mohan Awasthy. Officials said when bank agents tried to contact borrowers after EMIs were not paid, the addresses mentioned in the loan documents were fake. In some cases, the accused allegedly removed hypothecation details from the RCs and obtained fresh loans on the same vehicles, they added. Police added that the vehicles were sold across several states, including Punjab, Himachal Pradesh, Haryana, Jammu and Kashmir, and Rajasthan. Amit Gupta reportedly has a prior criminal record in Delhi, police said, adding that the accused's antecedents in other states is underway. Police are also collecting information from banks and finance companies linked to the case. A case has been registered under multiple sections of the Bharatiya Nyaya Sanhita, including Sections 318(4) (cheating), 336(3) (forgery), 338 (forgery of valuable security), 340(2) (using forged documents as genuine) and 3(5) (common intention)....