A city-based builder’s house was sealed by the authorities of a bank on Tuesday for non-payment of a loan.
Odisha Gramya Bank Dumduma branch officials with the help of the local police sealed the house of Sibani Builder chief Ratikant Kanungo at Bhimtangi after orders from the Khordha district Collector.
According to sources, Kanungo had taken the loan from the bank by mortgaging his houses at Bhimtangi and fake gold ornaments.
He failed to repay his loan, following which sealing orders were given by the Collector.
In 2013, the Central Bureau of Investigation (CBI) had arrested the bank’s suspended manager Kalindi Charan Nayak and Kanungo in connection with the `13.22-crore fake gold loan fraud. Kanungo allegedly connived with Nayak and pressurised five people to avail the gold loans by mortgaging fake gold.