BHUBANESWAR: The Central Bureau of Investigation (CBI) conducted searches on property linked to M/S Dwarka Jewellers over a bank fraud case amounting to over Rs 7 crore.CBI had registered a case in this connection after receiving a complaint from Indian Bank’s zonal manager in Bhubaneswar - V Sankar Raju. The complainant alleged Dwarka Jewellers and its partners misappropriated the cash credit limit of Rs 6 crore which was sanctioned by erstwhile Allahabad Bank, now Indian Bank, in 2013 for trading in precious stones, gold, silver and diamond ornaments.
Dwarka Jewellers, represented through its partners, Dwarka Nath Patro, Pushpanjali Patro, Uma Shankar Patro and Subhashree Patro, guarantor Bilkish Patro, unknown private persons/public servants have been accused of cheating the bank to the tune of Rs 7.14 crore as on May 19, 2022.
The cash credit account maintained at Allahabad Bank’s Old Station Square branch turned into a non-performing asset (NPA) on February 29, 2020. The complainant alleged Dwarka Jewellers transferred Rs 3.55 crore through different transactions to Uma Shankar Patro and M/S GDS Builders by diverting the funds from the cash credit account.“Searches were carried out at the house of Dwarka Nath Patro near Old Station Square and at the office of GDS Builders on Saturday,” said sources.