Odisha EOW Arrests Rama Narayan Bal in Rs 20 Crore Cheating Case | Assets Seized
The Economic Offences Wing (EOW) of Odisha has arrested Rama Narayan Bal, son of Dhruba Charan Bal of Erada village in Bhadrak district, in connection with a massive cheating case involving over Rs 20 crore.
Bal, who previously worked as a Sales Manager with SBI CAP Security, allegedly impersonated State Bank of India officials to lure victims with promises of access to auctioned properties of loan defaulters.
Investigators revealed he used forged agreements, fake seals, and fabricated signatures of senior officials to defraud multiple individuals and one company.
Authorities confirmed fraud exceeding Rs 20 crore, with one case alone accounting for losses of more than Rs 14 crore.
Bal was arrested on October 29, 2025, under EOW PS Case No.17 and produced before the Designated Court under the OPID Act in Cuttack. He remains in judicial custody.
During raids conducted on December 20, 2025, EOW seized assets including three motorcycles, 144 high-value mobile phones, four DJ vehicles with sound systems, photography equipment, and three luxury cars (Thar Roxx, Audi A4, Chevrolet Cruze).
Investigators also confirmed Bal’s involvement in four additional criminal cases across Baisinga, Bhadrak, and Talcher police stations.
The crackdown highlights EOW’s intensified efforts against financial fraud in Odisha, as investigations continue into Bal’s disproportionate assets and wider criminal links.
