BHUBANESWAR: The Economic Offences Wing (EOW) of Crime Branch on Wednesday arrested a 55-year-old man on charges of fraudulently availing bank loan of Rs 1.03 crore by mortgaging land property in the name of his dead mother using forged documents. The accused, Subrat Kumar Nayak of Laxmisagar area, allegedly took the loan by showing his deceased mother as alive.
EOW sources said Nayak was arrested following a complaint lodged by the regional head of Financial Crime Prevention Group of ICICI Bank, Bhubaneswar. As per the complaint, the accused had availed a loan of Rs 1.03 crore on November 30, 2017 from ICICI Bank, Bomikhal branch against equitable mortgage of three land property in the name of his mother Ramamani Nayak.
However, the loan slipped into NPA and when the bank started examining the matter for follow-up action, it reportedly found that Nayak’s mother had already died in 2016 but the former impersonated her to avail the loan.
The accused had allegedly taken the loan from the bank jointly with his wife Malabika Nayak. The outstanding amount against the loan has now increased to Rs 1.27 crore. Further investigation in the matter is in progress, EOW sources said.