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The accused, Nanda Kishore Roy, Nanda Nayek and Suprakash Bhattacharya — employees of Dum Dum Ordinance factory — were produced before the court and remanded in police custody till December 16.
A senior officer of the Detective Department said the trio and 13 other employees of the factory took a housing loan of Rs 1 crore for constructing residential apartments on three premises near Naktala and Garia. They took the loan from the Lake Garden branch of Canara Bank in 2004.
Since then, the clients had not deposited a single EMI to the bank. In 2008, the regional bank manager lodged a complaint with the police against Indranil Mondal — the promoter in whose name the entire loan was sanctioned.
During investigation, it was found that the then bank manager, M M Dewan, had masterminded the entire plan and the loan was sanctioned against a false name. Dewan, who was suspended recently after he was found guilty in another crime, is absconding.
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