Dikhyaa Mohanty 
On suspicion of cheating the Allahabad Bank (since amalgamated with Indian Bank) out of nearly Rs 7 crore, the Central Bureau of Investigation (CBI) conducted simultaneous raids on the home and business of a jeweler headquartered in Bhubaneswar. A well-known gold dealer from Bhubaneswar named Dwarka Nath Patro has been named as the primary conspirator.The CBI has also arrested Patro’s wife, his son, daughter, and daughter-in-law, as well as his business associates and a few government employees for forging property papers to acquire loans from banks.
According to reports, the Joint Director of the CBI in New Delhi received a written complaint from the Zonal Manager of Indian Bank in Saheed Nagar, Bhubaneswar. The CBI branch in Bhubaneswar, which has jurisdiction over the matter, was later given the case to handle. According to the complaint, Dwarka Jewelers and its partners allegedly committed fraud to obtain funds worth more than Rs 7 crore authorized by the former Allahabad Bank (now merged with Indian Bank) for the purpose of trading in gold, silver, precious stone, and diamond ornaments and jewelry.
According to the complaint, Shri Dwarka Nath Patro and its partners Pushpanjali Patro, Uma Shankar Patro, Subhashree Patro, the guarantor Bilkish Patro, as well as unidentified private individuals and unidentified public employees, engaged in fraud, criminal conspiracy, cheating, and forgery, resulting in a wrongful loss of Rs 7,14,50,799 to the Indian Bank. After receiving the loan, the company engaged in dishonest behavior and used the money for something other than what the loan was approved for. The company is accused of siphoning off the equities acquired through bank financing.
Additionally, it was discovered during verification that not all of the properties held as security or mortgage were in the names of the partners and guarantor. Based on the allegation, the CBI has opened an investigation that is punishable under sections 120-B, 420, 467, 498, and 471 of the IPC, as well as sections 13(2) and 13(1)(d) and (a) of the PC Act, 1988 (as modified in 2018).
According to reports, the CBI has been conducting searches since Saturday in response to the allegation. However, Dwarka’s son Uma Shankar said that for whatever reason, he and his family were unable to repay the debts, and they placed their faith in the court’s ruling.
