Home CRIME Odisha businessman arrested in bank fraud case

Odisha businessman arrested in bank fraud case

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Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha Crime Branch (CB) has arrested a person in connection with a bank fraud case.

The accused, identified as Prabhanjana Mohanty, was arrested by the agency last evening over a case registered under Sections 120-B, 467, 468, 471, 419, 420 of the IPC on the report of one Muziran Bibi in pursuance to the Orissa High Court order.

Investigation revealed that accused Mohanty in the capacity of Managing Director of M/s JBS Minerals & Overseas Pvt. Ltd. had availed a cash credit loan of Rs 4.5 crores on 25th of September, 2006 from erstwhile Centurion Bank of Punjab Ltd., Kharvel Nagar Branch, Bhubaneswar (merged with HDFC Bank Ltd.) against mortgage of landed properties located at Govinda Prasad, Nayapalli and Jagamara under Bhubaneswar Tahasil.

The properties stand recorded in the name of Fazul Khan, husband of complainant Muziran Bibi & Mallick Khan (in respect of plot No.219, Khata No.83, Mouza-Govinda Prasad) and Md. Israil, GPA holder of land located at Nayapalli and Jagamara.

Fazul Khan had died in 1995 and was not alive on the date of sanction of loan. The accused in connivance with others managed to avail the loan fraudulently by manipulating/forging the signatures of late Fazul Khan, Mallick Khan and Md. Israil as well as producing unknown persons, who impersonated themselves as recorded tenant of the mortgaged land.

After his arrest, Mohanty will be produced before the SDJM court here today.

Investigation into the matter is on.

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