Bhubaneswar: The Economic Offences Wing (EOW) of Crime Branch Monday arrested a debtor for allegedly duping State Bank India of Rs 1.28 crore here.
The accused, Badri Narayan Mishra, is a resident of Banktia village in Dhenkanal. He is staying in Madhusudan Nagar in the city at present.
Sources said Mishra had taken two loans (Rs 1.20 crore and Rs 15 lakh) through the cash credit mode from SBI’s Shastri Nagar Branch here in 2012 claiming that he wanted to open a foreign liquor shop.
He had submitted the documents of a plot measuring 2.460 acres located in the Jagannathprasad area as mortgage for the loans.
Later, the loan was declared a non-performing asset by SBI as Mishra defaulted in repaying.
Subsequently, the bank decided to auction the mortgaged land to recover the loan. However, it was shocked to find that Mishra had no legal rights over the land as he had bought it violating rules prescribed in the Odisha Land Revenue (OLR) manual.
Mishra had purchased the land from Amareswar Das who belongs to a Scheduled Caste (SC). According to OLR rules one should get permission from revenue authorities before purchasing land from any person belonging to a SC.
However, Mishra converted the land into his name without taking the permission of revenue officials. He mortgaged the land for taking the loan despite knowing that he had no valid title over the land. The current outstanding amount from him is Rs 1.28 crore.
SBI Shastri Nagar branch manager Ajaya Kumart Muni lodged a complaint with EOW regarding this October 31. EOW registered a (22/18) under Sections 420, 467, 468, 471 and 406 of IPC.