This act of Chatterjee however, is not the only one he has made. Chatterjee had taken Rs 1 crore as a loan from the Lake branch of Bank of Baroda in 2006, a senior city police officer said. He followed it up by taking loans from UCO Bank, Allahabad Bank, City Bank and Canara Bank in the same year and each time he had deposited his apartment deed as mortgage.

Officials of Karnataka Bank realised that they had been cheated by Chatterjee after he didn't pay his monthly interest. After checking in the address mentioned in the loan application form, the bank authorities realized the objectives of Chatterjee and complained to the police. “We had raided Chatterjee's residence and offices but he was not there. He has gone into hiding with his wife,” the officer said.

He also added about his involvement in duping the Gujarati Society of Rs 18 crore a few years ago because of which a case is pending against him in the Alipore special court of the Central Bureau of Investigation (CBI).

On efforts to capture the fraudster, the officer said that the police are thinking of advertising in different media outlets, asking for help from the general public and seeking information about him.