Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police on Tuesday arrested a man accused of defrauding ICICI Bank of Rs 1.27 crore by impersonating his deceased mother to avail a loan.
The accused, identified as Subrat Kumar Nayak (55) of Laxmisagar, Bhubaneswar, was arrested in connection with EOW PS Case No. 11 dated August 21, 2025. He was booked for cheating, forgery, and criminal conspiracy, and is scheduled to be produced before the Designated Court under the OPID Act in Cuttack.
The case was registered on the basis of a complaint filed by Sushant Nayak, Regional Head of the Financial Crime Prevention Group, ICICI Bank Ltd.
According to the FIR, Subrat Nayak, along with his wife, had taken a loan of Rs 1.03 crore on November 30, 2017 from the bank’s Bomikhal branch by mortgaging three landed properties in the name of his mother, Ramamani Nayak. However, investigations later revealed that Ramamani had already passed away on November 6, 2016, a year before the loan was sanctioned.
Police said that Subrat Nayak impersonated his deceased mother and used forged documents to secure the loan, which subsequently turned into a non-performing asset (NPA). The outstanding loan amount currently stands at Rs 1.27 crore.
The EOW said further investigation is underway to ascertain the involvement of others and trace additional evidence.
