Bhubaneswar: Odisha’s Economic Offences Wing (Bhubaneswar) has arrested accused Swayam Prakash Parida, Ex-Branch Manager of Central Bank of India, Pallaspalli Branch, Bhubaneswar, on 28.07.2023 from Cuttack in an EOW case registered in April 2018 under Sections 420/467/468/ 471/120-B of the IPC.
The accused will be produced before SDJM, Bhubaneswar on Saturday. He was absconding for long. Parida has already been dismissed from the service, the EOW stated.
The case has been registered on the written allegation of Ajaya Kumar Khuntia, BM, Central Bank of India, Palaspalli Branch, Bhubaneswar, that during the year 2015 to 17, Maitreya Mishra and others, fraudulently managed to open several Bank accounts in the name of several automobile dealerships in the city in different Banks by using fake and forged documents.
Thereafter, they got the sanctioned loan amounts credited to the accounts so opened with different banks and misappropriated the same.
Parida was working as a Branch Manager, of the Central Bank of India, Pallaspalli Branch, from May 11, 2015, to November 23, 2017. During his incumbency, he has sanctioned 24 vehicle loans and one CC loan with the amount varying from Rs 2 lakh to Rs 9.75 lakh under the ‘Cent Vehicle Schemes’ in the name of different persons based on the forged KYC and loan documents.
He, in conspiracy with Mishra who was earlier arrested in this case, has sanctioned the loans in the name of different persons including the fake ones and diverted the loan amount to different accounts so opened by Mishra in the name of reputed vehicle dealers, by using fake KYC and ROC documents.
The accounts were opened and managed by Mishra fraudulently in a calculated manner in connivance with the arrested accused Swayam Prakash Parida, and he was the authorized signatory of the accounts.
The loan amounts sanctioned fraudulently in the name of different persons with or without their knowledge to
purchase vehicles were ultimately transferred to the accounts so opened by Mishra by using the fake KYC and ROC documents in the name of some of the reputed vehicle dealers. Later, the loan amounts were misappropriated by both Maitreya Mishra and the present accused Swayam Prakash Parida and others.
As found, an amount of Rs 1.09 Crore in respect of the 24 vehicle loans and one CC loan have been sanctioned/disbursed illegally, and the amount was misappropriated by the above-noted accused persons. The loans were sanctioned for the purchase of the vehicles, but fake insurance certificates, cover notes, and payment receipts in respect of the vehicles were submitted without the purchase of any vehicle.
Even, there was no hypothecation of the vehicles to the lender bank. As a result, the bank could not recover the loan amounts in the absence of any collateral security and thus suffered a heavy loss. Investigation of the case is on.
