Muzaffarpur. The Central Bureau of Investigation has arrested Ramprakash Mandal, who had been absconding for nearly nine years in an alleged ₹3.74 crore bank loan fraud involving the purchase of 15 oil tankers. A CBI team raided a house in Bhadai village under the Hathauri police station area of Muzaffarpur on Friday night and arrested Mandal. He was allegedly involved in the operation of ‘Hans Engineering’, a firm in Begusarai engaged in fabrication of oil tanker bodies.
A warrant had been pending against Mandal for a long time, and a court had also ordered attachment of his property. The investigating agency received information that he had returned to his ancestral village in Bhadai. After verifying the information, the team conducted a raid and took him into custody. Following the required legal formalities, he was taken to Ranchi.
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The case dates back to 2013. According to the investigation, Praveen Kumar Singh, a resident of Mosadpur in Begusarai, applied on December 30, 2013, for a loan from SBI’s Barauni Fertilizer Township branch to purchase 15 oil tankers. He submitted two quotations from Pawan Automotives Private Limited for the proposed purchase. For fabrication of the tanker bodies, he also submitted a quotation of around ₹2.03 crore from Hans Engineering, operated by Ramprakash Mandal.
The bank sanctioned a loan of ₹3.74 crore on February 21, 2014. The loan amount was subsequently transferred through RTGS to the bank accounts associated with the vehicle dealer and the body manufacturer. The investigation later alleged that the loan funds were not used in accordance with the terms of the financing and that the transaction involved multiple instances of alleged fraud.
During the investigation, several tankers purchased through the bank loan were found to have been registered in the names of other individuals. Two of the vehicles were registered in the names of Mahfooz Khan and Chandrashekhar Singh. In addition, two other tankers were allegedly financed again by Praveen Kumar Singh through Bank of Baroda despite the existing SBI loan. The findings raised questions about the actual ownership of the vehicles and the manner in which the bank loan had been utilized.
When the bank initiated recovery proceedings for the outstanding loan, another alleged irregularity came to light. The borrower side allegedly lodged a false vehicle theft complaint at Barauni police station. The subsequent investigation, however, found discrepancies between the theft claim, vehicle documents and the loan transactions.
A first information report was registered in 2017 at the economic offences wing of the CBI in Ranchi following a complaint from the bank. The investigation focused on alleged misuse of the loan amount, manipulation of vehicle ownership records and causing financial loss to the bank.
The CBI named Praveen Kumar Singh, Pawan Automotives director Ranjan Kumar, Chandan Kumar and Hans Engineering operator Ramprakash Mandal as accused in the case. Further investigation and legal action were also taken against other individuals allegedly linked to the matter.
Mandal is accused of playing a role in the documentation and financing process related to the fabrication of the tanker bodies and in the alleged misuse of the bank loan. He remained away from the reach of the investigating agency for years after the case was registered. His arrest followed information about his presence in his ancestral village.
The investigating agency is now expected to question Mandal about the use of the ₹3.74 crore loan, the ownership and registration of the tankers, the alleged duplicate financing and the roles of other persons involved in the transaction.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
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