# Odisha financial fraud investigations

> Live situation record from CLSTR: https://clstr.news/situations/odisha-financial-fraud-investigations
> Updated: 2026-07-31T14:36:21.000Z. Sources: 4. Developments: 2.

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.

## Timeline

### 2026-07-31: 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 sources. https://clstr.news/cluster/himanshu-das-arrested-in-odisha-for-rs-4094-lakh-misappropriation

### 2026-07-30: 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

3 sources. https://clstr.news/cluster/odisha-police-arrest-mihir-kumar-paikaray-for-142-crore-icici-bank-loan-fraud

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Cite as: Odisha financial fraud investigations. CLSTR, https://clstr.news/situations/odisha-financial-fraud-investigations