The arrest came after the police were tipped off by a city-based lender of the United Bank of India.
Three persons - Kedarnath Prusty, Manik Mohan Mishra and Prodip Kumar Gangopadhyay - were arrested yesterday in connection with the National Small Industries Corporation cheating case from different locations of the city, he said.
The trio have been accused of forging bank guarantee papers worth Rs 173.5 crore, the officer said.
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