Bhadrak/Cuttack, Dec 23: The Economic Offences Wing (EOW) of Odisha arrested Rama Narayan Bal, son of Dhruba Charan Bal of Erada village, Bhadrak, on 29th October 2025 in connection with EOW PS Case No. 17/2025 under multiple sections of the BNS Act. He was produced before the Hon’ble Designated Court under the OPID Act, Cuttack, and is currently in judicial custody.
Rama Narayan Bal, who previously worked as Sales Manager at SBI CAP Security from 2023 to 2024, allegedly impersonated State Bank officials to cheat multiple individuals of crores of rupees. Investigations revealed he defrauded at least nine people, including the complainant company, of over ₹20 crore, using forged agreements, fake seals, and forged DGM signatures to facilitate the sale of seized bank properties.
During police remand, it was discovered that Bal had accumulated significant movable assets in his and his relatives’ names from the crime proceeds. On 20th December 2025, simultaneous raids were conducted at his residential and business premises in Bhadrak and Bhubaneswar, resulting in the seizure of:
Investigations also revealed Bal is linked to four other criminal cases, including cheating in Baisinga, Bhadrak, and Talcher. The probe is ongoing.
