Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha Crime Branch has arrested two persons, including a senior manager of Punjab National Bank, in a loan fraud case.
The accused have been identified as Srikanta Prasad Prusty, Senior Manager cum Assessment Officer, Punjab National Bank, and Kali Prasad Mishra, proprietor of M/s K.P. Solutions, Nageswar Tangi, Bhubaneswar.
They have been apprehended under Sections 406, 420, 467, 468, 471, and 120(B) of the IPC on the basis of a complaint lodged by Paresh Kumar Das, Circle Head of Punjab National Bank, Bhubaneswar.
It is alleged that in conspiracy with the bank officers, accused Kali Prasad Mishra, who deals with wholesaling and retail trading of tiles, sanitary items and electronic goods, had availed Cash Credit (CC) Loan amounting to Rs 2.5 crores by mortgaging the property of three guarantors, who during enquiry denied to have signed the documents and kept the properties as mortgage for the loan.
During investigation it was ascertained that the accused loanee used fake KYC documents including electricity bills and Voter Identity cards in names of three guarantors, who purportedly stood as guarantors for the loans and mortgaged their immovable property located at Madhu Patna, Cuttack during the year 2017, whereas the facts remained that one of the guarantors had expired during the year 2014 i.e. more than three years prior to the loan sanctioned.
Accused Srikanta Prasad Prusty, the then Senior Manager, Punjab National Bank, Bapuji Nagar Branch in criminal conspiracy with the loanee had recommended for sanction of huge CC loan to the tune of Rs 250 lakhs by accepting the forged documents mentioning to have verified identity of guarantors and also entertaining the impersonators for the guarantors to sign the mortgaged deeds knowing very well that they are not the owner of the property and thereby caused huge loss to the bank/government exchequer.
The loan is now outstanding to the tune of Rs 267.33 lakhs.