The Economic Offences Wing (EOW), Bhubaneswar on Friday arrested Dipak Kindo, the Managing Director of Sambandh Finserve Pvt. Ltd in connection with a fraud amounting to Rs 100 crore.
Dipak, against whom a lookout notice was issued, was arrested from Luludiha area in Sundergarh district while he was trying to flee the State. He will be produced before the SJDM court in Bhubaneswar today.
Earlier, the wife of Dipak, Amrita Kindo was arrested for her alleged complicity in the case. She had availed more than Rs 22 crore out of the cheating money and is now in judicial custody, EOW said in a release.
The accused Dipak has been arrested on the basis of a complaint filed on behalf of Annapurna Finance Pvt. Ltd., Khandagiri. The complainant had alleged that Dipak had fraudulently availed a loan to the tune of Rs 5 crore from Annapurna Finance Pvt. Ltd. on the basis of forged documents and misappropriated the same without refunding the amount to company.
In 2020, Dipak’s company had availed the loan on purpose of carrying financial activities effectively by giving loans to different SHG and Joint Liability Groups. “However, after availing the loan/finance, the accused’s company violated the terms and condition of finance and misappropriated the amount without making repayment. It has also been ascertained that the accused company had furnished forged documents to avail the loan,” the EOW release read.
Subsequently from 2015 to 2020, Dipak’s company had raised funds of more than Rs 109 crore from different investors/ lenders like DCB Bank, SIDBI (Small Industries Development Bank of India), BOPA PTE Ltd. (a Singapore based Company) and DIA Vikash Capital Pvt. Ltd. on the basis of forged documents.
Dipak had allegedly misappropriated the money by diverting the amounts to their personal accounts and accounts of sister concerns companies including Diya Dairy Agro Processor Pvt. Ltd., the Director of which was his wife Amrita.