City

ED Files Chargesheet Against GDS Builders Director, Bank Officer In Bhubaneswar

By
OB Bureau

Bhubaneswar: The Enforcement Directorate (ED) has filed a Prosecution Complaint in a special PMLA court here against GDS Builders Pvt Ltd director Umasankar Patro, Union Bank of India (UBI) Nayapally branch’s erstwhile Assistant Manager Ashwini Kumar Patra, and Dwarka Jewellers.

This came days after the agency attached assets worth over Rs 19 crore of the firm, its director and others under Prevention of Money Laundering Act (PMLA).

The investigation was initiated on the basis of three FIRs registered by the Anti-Corruption Bureau (ACB), Central Bureau of Investigation (CBI), Bhubaneswar, under various sections of the Indian Penal Code (IPC) and the Prevention of Corruption Act against Patro, three officials of UBI’s Nayapalli branch and private loanees. It was found that a few officials of UBI in connivance with Patro and some borrowers fraudulently availed housing loans in 2017. Patro and his family members misappropriated the loan amounting to Rs 18.79 crore. Furthermore, Patro through his jewellery firm committed fraud in the Cash Credit loan obtained from Indian Bank (formerly Allahabad Bank), Bhubaneswar, causing a significant financial loss of Rs 7.14 crore to the bank.

In May, the ED had conducted searches at eight locations in the capital city linked to Patro and his relatives and seized 1.978 kg gold ornaments worth Rs 1.30 crore and Rs 15 lakh in cash.

OB Bureau

Recent Posts

After Breakup, Malaika Arora’s Relationship Status Is ‘Hehehe’

Mumbai: After beau Arjun Kapoor declared publicly that he is not dating anyone right now,…

November 25, 2024

Amid Aishwarya & Abhishek’s Divorce Rumours, Shweta Gifts Flowers To Ash’s Sister-In-Law

Mumbai: Even though Aishwarya Rai and Abhishek Bachchan have maintained a dignified silence over their…

November 25, 2024

Siddhant Das To Step Down As Chairman Of Odisha Real Estate Regulatory Authority

Bhubaneswar: Siddhant Das has sought to step down as Chairman of Odisha Real Estate Regulatory…

November 25, 2024

ISL: Odisha FC Hammer Hyderabad 6-0, Biggest Win Of The Season

Hyderabad: Odisha FC went on a scoring spree at the Gachibowli Stadium as they humbled hosts…

November 25, 2024

Anurag Kashyap’s ‘Debut’ Film ‘Paanch’ To Be Released After 22 Years!

Mumbai: Filmmaker Anurag Kashyap’s directorial debut ‘Paanch’ is finally going to see the light of…

November 25, 2024

Taapsee Pannu Wants To Work With Big Heroes For This Reason

Mumbai: Actress Taapsee Pannu, who has shared screen space with very few A-listers, has now…

November 25, 2024

Vigilance Arrests Forester & ‘Gaon Sathi’ For Misappropriation Of Rs 10 Lakh Govt Funds In Odisha’s Koraput

Bhubaneswar: Vigilance has arrested a Forester and a Gaon Sathi (village mate) for alleged misappropriation…

November 25, 2024

IPL Auction: Vaibhav Suryavanshi Becomes A Crorepati At 13! Bhuvi Bags Rs 10.75 Cr

Mumbai: Ten days ago, Vaibhav Suryavanshi made headlines after becoming the youngest cricketer to make…

November 25, 2024