The Economic Offences Wing (EOW) of the Crime Branch arrested Dilip Jain of Bikaner, Rajasthan on charges of duping investors in Odisha to the tune of Rs 2 crore.
Jain was arrested from Bareli in Uttar Pradesh and booked under Sections- 467,468,471,420,406, 120-B Indian Penal Code (IPC), Sections 4,5, 6 of Prize Chits & Money Circulation Schemes (Banning) Act, 1978, along with Section 6 of OPID Act, 2011.
EOW had registered an instant case based on the complaint filed by one Laxmi Narayan Mohapatra of Talcher. Mohapatra alleged that Jain was involved in unauthorized collection of public deposits. He, as one of the Directors of M/s Inter Occean Videsh Ltd chit fund company and its sister concerns, also did not pay any maturity amount to the depositors, the complainant alleged.
As per EOW officials, M/s Inter Occean Videsh Ltd is registered with ROC, Cuttack having its registered office at Bhubaneswar and branch offices in other parts of the State.
During 2010-13, the Directors of M/s Inter Occean Videsh Ltd and its sister companies- Alpine Fin Corp Ltd, Inter Occean Impex Pvt. Ltd and Inter Occean Retail India Ltd unauthorizedly collected public deposits, to the tune of Rs.2 crores approximately, by inducing the investors with their attractive advertisements to invest money under their different deposit schemes which would provide them high rate of interest.
Thereafter they closed down their offices and absconded during January 2013 without repaying the monthly returns as well as the principal invested amount of the investors. Thereby, they cheated the investors and misappropriated their invested amount.
Earlier in this case, two Directors, Sunita Samal and Manoranjan Ray, had been arrested and produced before the court. The freshly arrested accused, Dillip Kumar Jain, was another Director of the above companies. He was absconding since registration of the case and was frequently changing his places in a bid to evade arrest.
“On receipt of credible information regarding availability of accused in New Delhi, a team of EOW proceeded to New Delhi on 21.07.2021. The accused frequently moved to Bikaner, from Bikaner to Delhi and from Delhi to Bareli via Ghaziabad. He was nabbed on 28.07.2021 at Bareli with the help of local police,” EOW said in a release.