Tag: Chit Fund Scam

Cuttack: Former Odisha Youth Congress chief Rajat Choudhury, arrested by CBI in connection with the multi-crore chit fund scam, was today granted conditional bail by the Orissa High Court. Choudhury was arrested in July for his alleged role in the scam and illegal collection of public money by Arthatatwa (AT) Group of Companies. Also Read:  Special […]

Cuttack: A designated court hearing cases on the chit fund scam in Odisha today ordered public auction of seized properties of Siridi Sai Estates Private Limited. The special court headed by an ADJ-rank judicial officer asked the competent authority (Cuttack ADM) to distribute the realised amount from the auction equitably among the investors in that […]

Bhubaneswar: Enforcement Directorate today filed a charge sheet in the multi-crore Rose Valley chit fund scam wherein thousands of people were cheated in West Bengal and Odisha. The agency said it has filed a prosecution complaint (equivalent of charge sheet) pertaining to cases in Odisha under the provisions of the Prevention of Money Laundering Act […]

New Delhi: Odisha government today sought court-monitored CBI investigation into the multi-crore chit fund scam, telling Supreme Court that the probe was not going on at the desired pace. A bench comprising justices T.S. Thakur and Adarsh Kumar Goel said, “We have made clear to CBI that it will have to investigate the cases which […]

Bhubaneswar: The BJP on Tuesday staged a demonstration here, urging the CBI to speed up its ongoing investigation into the multi-crore-rupee chit fund scam in Odisha. The Bharatiya Janata Party submitted a memorandum to Central Bureau of Investigation chief Anil Kumar Sinha, asking him to expedite the probe in the scam in which several politicians […]

The police today sought permission from the Odisha government to confiscate the property of Artha Tatwa (AT) Group which allegedly defrauded over Rs 350 crore from investors in the state capital.

Bhubaneswar: With the general elections nearing, political parties are gearing up to select candidates. The ruling-BJD, which has been at the helm of affairs for the last nineteen years, is reportedly facing worries over candidate selection due to involvement of several of its party leaders in the multi-crore chit fund scam. At a time when […]

Bhubaneswar/Bhopal: The Central Bureau of Investigation (CBI) on Friday arrested Niranjan Saxena, the executive director of a chit fund company, Nirmal Infra, on charges of duping crores of rupees from people of Odisha. Saxena was arrested from Madhya Pradesh by a special team of CBI, and was brought to Odisha today on transit remand. Later, […]

Till the time this piece was being written, there was no official word from the CBI that BJD MLAs Arun Sahu and Atanu Sabyasachi Nayak have indeed been served notices in connection with the chit fund scam. Though it was ‘breaking news’ on all local TV channels on Tuesday evening, the source for all of […]

By Sandeep Sahu The ongoing CBI investigation into the multi-thousand crore chit fund scam is fast turning out to be a theatre of the absurd. More than a year after it last questioned Balasore MP Rabindra Jena and Laxmibilasini Biswal, wife of Choudwar-Cuttack MLA Pravat Biswal, in connection with the Seashore case, the agency suddenly […]

Cuttack: In what could bring a ray of hope in the lives of lakhs of depositors in the Rose Valley chit fund firm, the Special Chit Fund Court here has directed the Odisha government to refund the deposits of the small investors. As per reports, there are as many as 2,38,477 investors for whom the […]

Bhubaneswar: The Odisha government today extended the tenure of the Justice MM Das Commission of Inquiry, which is probing into the multi-crore chit fund scam in Odisha and has been entrusted with the responsibility of identifying duped investors who will be refunded by the State government. The State government extended by the tenure of the […]

Bhubaneswar: Union Minister Dharmendra Pradhan on Sunday trained his guns at Odisha Chief Minister Naveen Patnaik alleging that the ruling BJD is deliberately delaying the process to refund the hard earned money of innocent people duped in the chit fund scam. Expressing concerns over the inordinate delay in refund of money, Pradhan said that the […]

Bhubaneswar: Hours after BJP legislature party leader KV Singh Deo stirred hornet’s nest by claiming that Odisha Chief Minister was quizzed by the Central Bureau of Investigation (CBI) in connection with the multi-crore chit fund scam, Naveen retorted to such allegations as ‘absolute nonsense’. Citing media reports that Naveen was also grilled by the CBI […]

Bhubaneswar: Hours after BJP legislature party leader KV Singh Deo stirred hornet’s nest by claiming that Odisha Chief Minister was quizzed by the Central Bureau of Investigation (CBI) in connection with the multi-crore chit fund scam, Naveen retorted to such allegations as ‘absolute nonsense’. Citing media reports that Naveen was also grilled by the CBI […]