The Economic Offenses Branch of Odisha Police (EOW) on Wednesday arrested a couple from Patia area of Bhubaneswar in a fraud case. The couple is accused of fraudulently taking a loan of Rs 1.30 crore from a private bank. The arrested Ashirwad Patnaik and his wife Manojyan took a loan by mortgaging the property already pledged for another loan.
According to EOW, the couple had taken a loan of Rs 1.05 crore from ICICI Bank’s Cuttack Link Road Branch, on which by January 2025, Rs 1.30 crore was owed.
Police said that they had mortgaged two flats and a duplex to take this loan, already pledged for a loan of Rs 3.79 crore taken from Indian Bank in 2018.
There was a principal loan of Rs 3.79 crore
Police said that blessings used to run a proprietorship firm ‘AB Solutions’. He took a principal loan of Rs 3.79 crore from Indian Bank in January 2018. In October 2018, the couple used the same property to take a loan from ICICI Bank. Police said during their fraud activities, blessings sold one of the mortgaged flats, while the rest of the property was seized by the bank for being unable to repay the earlier loan.
EOW investigation revealed that ICICI Bank suffered a wrong loss of Rs 1.3 crore. During the investigation, the officials seized several fake sales loan documents.