Mumbai: Mumbai police has arrested eight persons for allegedly securing housing loans worth Rs 84.20 lakh against forged property documents.

The accused allegedly assured employees of International Airports Authority of India (IAAI) of help in acquiring housing loans to purchase apartments at Mira Road in neighbouring Thane district, police said.

Collecting genuine documents from applicants, the accused allegedly prepared fake loan cases and got them sanctioned from nationalised banks.

Later, they opened an account in the name of a Mira Road based construction company and encashed the cheques, which banks had "issued for home loan disbursement", police said.

The Economic Offences Wing (EOW) of Mumbai Crime Branch arrested the eight last week, identified as Shailesh Rawal, Sameer Sehgal, Ramesh Tikekar, Vijay Landge, Alamgir Ansari, Aijaz Ibrahim Khan, Ravindra Pandurang Sawant and Nandkumar Pannikar.

Of them, Rawal, Sehgal, Tikekar, Sawant and Pannikar have been remanded to police custody till February 11.