Odisha: Man held in Rs 20 lakh loan fraud case

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Bhubaneswar: Commissionerate Police has arrested a man on charges of duping a Kataka‑based woman of Rs 20 lakh after allegedly borrowing the money on the pretext of funding his son’s higher education, police officials said Sunday.

The accused, identified as Shasadhar Panda, a native of Bhadrak district, is currently residing in Sector‑13, CDA area of Kataka city.

Police officials stated that January 28, 2025, the complainant, Deeparani Pattnaik of Mangalabag police station area in Kataka, came into contact with Panda during a programme of a voluntary organisation, Krantibahini, located at Nakhara in Kataka district.

Subsequently, the accused, along with his family members, frequently visited the informant’s residence at Friends Colony area of Kataka city and gradually developed a close relationship with her family.

The Kataka Police, in a press statement, informed that during the course of their acquaintance, the accused introduced himself as a retired Block Education Officer and requested a loan of Rs 20 lakh, stating that the money was urgently required for the higher education of his son, who was pursuing Information Technology at a private educational institution.

Although the victim initially declined to lend the money, she later agreed after the accused assured her that, in lieu of the loan amount, he would execute and register a parcel of land in Sector‑13, CDA, Kataka city, in her wife’s name and in her favour.

Believing the assurances, the complainant paid him a total of Rs 20 lakh through cash and mobile banking transactions.

However, despite repeated requests from the victim, the accused neither executed the sale deed for the aforesaid land nor repaid the loan amount. She further alleged that Panda verbally and physically abused her before absconding after switching off his mobile phone.

Left with no other option, the victim lodged a case at the Mangalabag police station May 21, 2026.

During the course of investigation, police found that Panda is a habitual and professional cheater involved in six more such cheating cases registered at different police stations in Bhadrak, Puri and Kataka districts.

Besides, the Economic Offences Wing (EOW) of the Odisha Police is also investigating a fraud complaint against Panda involving Rs 3.50 crore.

Following technical analysis, the police arrested Panda from his hideout in Khaira, Baleshwar district, July 18.

IANS

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