Bhubaneswar (SunstarTV Bureau): After alleged of loan fraud to the tune fraud of 7 crore in Bank of Baroda, main branch here, the Central Bureau of Investigation (CBI) has started a probe into the matter.
Meanwhile, CBI has registered a case against the office owner and unknown officials of Bank of Baroda’s city branch following a recent directive by the Orissa high court.
According to CBI report, Subash Mallick, a businessman, and his acquaintance Biranchi Narayan Singh had a few years ago availed the Rs 7 crore loan from the bank by allegedly furnishing fake documents.
“The bank officials did not verify the fake documents of a mortgaged property and sanctioned the loan in favour of Subash Foundation, owned by Mallick. Mallick did not repay the loan and subsequently the loan account was declared as nonperforming asset (NPA),” a CBI officer said.
CBI said the concerned bank officials, who were supposed to verify the documents before the sanction of the loan amount, “acted maliciously” for wrongful gain and committed “criminal misconduct”.
Interestingly, Biranchi Narayan’s brother Surya Narayan Singh is the whistle-blower of the fraud. Surya had recently moved the Orissa high court against his brother Biranchi for illegally selling their father’s land to Mallick’s Subash Foundation in 2007. In his petition, Surya said his father Batakrushna Singh, who is no more, owned 6.73 decimal land at Fakirpada under Baranga police limits in Cuttack district.
He said the land was a joint property of Batakrushna’s successors (four sons and two daughters), but Biranchi illegally transferred the property in Subash Foundation’s name for Rs 15.15 lakh on February 7, 2007.
“Later, Biranchi and Mallick applied for the loan at Bank of Baroda by submitting the fraudulent or invalid land sale deed. We will interrogate them as well as the bank officials,” a CBI officer said.
