Man held for cheating bank of Rs 10.97 lakh

BHUBANESWAR: The Economic Offences Wing (EOW) of the Crime Branch on Wednesday arrested a man for cheating Urban Cooperative Bank Limited in Dhenkanal to the tune of `10.97 lakh.

The accused was identified as Budhimanta Sahu of Gondia in Dhenkanal district.EOW officers said between December 1995 and June 2001, former president of the bank Sukanta Kumar Mishra, the then secretaries and members of the loan sub-committee in connivance with some borrowers sanctioned loans worth `94.42 lakh to 20 applicants who had submitted forged documents. Due to non-payment, the loans turned into non-performing assets (NPA) and the outstanding amount along with the interest was calculated at `3.63 crore.

Sahu was one of the beneficiaries who had availed a loan through fraudulent means. In 2001, he had taken a `3 lakh loan from the bank by submitting forged documents. As he did not repay the amount, the loan turned into NPA and the outstanding amount along with the interest till March 31 this year was calculated at `10.97 lakh.

Earlier, EOW had arrested Mishra, former secretary of the bank Niranjan Kar, former directors Bharat Chandra Samal and Panchanan Swain and nine others for their alleged involvement in the scam.
Sahu was produced in a court in Dhenkanal.