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2 clusters · 4 sources · 2 days · First seen · Last updated

Odisha financial fraud investigations

Overview

In late July 2026, Odisha’s law‑enforcement agencies intensified their crackdown on financial misconduct. On July 29, the Economic Offences Wing arrested Mihir Kumar Paikaray in Bhubaneswar for securing a ₹1.42 crore loan from ICICI Bank using forged land documents, turning the loan into a non‑performing asset and prompting multiple fraud charges.

The following day, Odisha Vigilance detained former cooperative society MD Himanshu Das in Mayurbhanj district. Investigators alleged that Das misappropriated roughly ₹40.94 lakh collected from farmer borrowers and diverted the funds for personal use, leading to charges under the Prevention of Corruption Act and the Indian Penal Code.

Both cases illustrate a broader pattern of authorities targeting fraudulent loan schemes and the misuse of cooperative funds, signaling a sustained effort to address financial crimes in the state.

Entities

ICICI Bank Ltd. · Odisha Vigilance · Betnoti Large Area Multi-Purpose Cooperative Society (LAMPCS) Ltd. · Suryodaya Small Finance Bank · Bank of Baroda

Timeline

  1. 22 days ago

    [CRIME] 2 sources
    Himanshu Das arrested in Odisha for Rs 40.94 lakh misappropriation

    Odisha Vigilance arrested former Betnoti LAMPCS MD Himanshu Das for allegedly siphoning Rs 40.94 lakh from farmer loans, with a case filed under anti‑corruption laws.

  2. 23 days ago

    [CRIME] 3 sources
    Odisha Police Arrest Mihir Kumar Paikaray for ₹1.42 Crore ICICI Bank Loan Fraud

    Odisha’s Economic Offences Wing arrested Mihir Kumar Paikaray for a ₹1.42 crore ICICI Bank loan fraud using forged land documents; he previously defaulted on a ₹30 lakh Baroda loan and faces charges under many刑

Sources

connectedtoindia.com · kalingatv.com · newindianexpress.com · pragativadi.com