Bhubaneswar: The CBI special CJM court on Monday allowed the national investigating agency to take the arrested managing director (MD) of chit fund company Safex Infra India Feroz Khan on a five-day remand.
According to sources, CBI had sought court’s permission to take Feroz on a seven-day remand. However, the court allowed the investigating agency to take him on a five-day remand.
Feroz will be questioned about his links with powerful people and monetary transactions of the chit fund company during the remand period, said a CBI official.
Notably on Sunday, Sahid Nagar police had arrested Feroz from Jayadev Vihar area of the city. Police later handed over Khan to the CBI, which is probing the multi-crore chit fund scam in the state.
Earlier, the State Crime Branch had arrested eight officials, including four directors, of Safex Infra India in 2012 for duping around Rs 25 crore from the people on the promise of providing them with attractive returns.
Later, the CBI took up the investigation and was on the hunt for Khan.
It may be recalled that the CBI had raided the offices of Safex Group of Companies at 14 places in Odisha on January 13 last year.
The Central investigating agency had raided the residence of Firoz Khan and four directors of the company—Purna Chandra Biswal, S Chinmaya Subudhi, Amanull Ahmed Khan, Santosh K Nanda—and seized incriminating documents.