The accused identified as Narayan Senapati, a resident of Patana Sahi in Balugaon area of Khordha district, was also arrested on charges of misappropriating the bank loans.
As per the complaint, Senapati had availed two loans of Rs 60 lakh and Rs 40 lakh from Allahbad Bank, Station Square branch here by submitting forged documents of landed properties as sureties in 2010. When he did not repay the loan amount, the loan turned into NPA amounting to 1.45 crore in December, 2014.
During investigation, it was revealed that Senapati had availed the loans by giving mortgage of two properties in Bhubaneswar. While one of the two mortgaged properties was already sold prior to availing the loan, another stands recorded in the name of Government.
After arresting Senapati, the EOW produced him before the SDJM Court here today. Further investigation is on into the incident, said an official.
Prasanta Patnaik