Cuttack: The Commissionerate Police Saturday claimed to have arrested three persons for their involvement in a loan fraud case.
Accused Satya Shankar Satpathy alias Bapi of CDA Sector-9, Rajkishore Swain alias Raju of CDA Sector-10 and Khetramohan Tripathy of Niali Ratanpur were produced in a local court, police said.
Police have seized several forged documents including land records, PAN cards, voter identity cards and driving licences from the accused, said Cuttack Deputy Commissioner of Police (DCP) Prateek Singh.
The DCP said that the senior branch manager of Union Bank of India’s (UBI) High Court Bar Council branch, Suresh Kumar Mohanty, had lodged a complaint in connection with the loan fraud at Lalbag police station September 3.
As per the complaint, Satya Shankar had availed loan to the tune of Rs 60 lakh from the said UBI branch January 28, 2019 to invest in certain business. He had mortgaged a piece of land at Paikapur near Chandaka that was owned by one Satyabadi Baliarsingh of Nayagarh.
Satya Shankar had produced forged land records, Baliarsingh’s PAN card, voter identity card and other documents while availing the loan. However, he defaulted on payment of installments a few months after availing the loan, said the complaint.
Subsequently, the bank authorities had filed a suit against Satya Shankar and Baliarsingh in the Cuttack Debts Recovery Tribunal March 31, 2021. Taking up the case, the tribunal had served notices on the duo.
Upon receipt of the tribunal notice, Baliarsingh complained that he was unaware of the bank loan availed by Satya Shankar and that he had not signed any document to be the guarantor. Baliarsingh had alleged that Satya Shankar had availed the loan by producing forged documents.
“Police investigations confirmed that Satya Shankar along with Swain and Tripathy had forged the land records and other documents to avail the loan. Even Tripathy had impersonated Baliarsingh when the bank officials visited the mortgaged land,” said the DCP.
Acting on the complaint of the UBI, the Lalbag police arrested the trio, he added.
“We will soon seek the permission of the court to take the accused on remand for further investigation into the case. We suspect the involvement of some more individuals in the loan fraud case,” said the DCP.