Tag: Chit Fund

Cuttack: After remaining behind bars for almost three years, former MLA Hitesh Bagarti will walk out of the jail as Orissa High Court granted him conditional bail today in connection with Nabadiganta chit-fund scam. The court directed him to deposit a sum of Rs 2 lakh for the bail. Bagarti, a former legislator of BJP […]

Bolangir: At a time when scores of chit fund firms like AT & Seashore are facing CBI action with their officials cooling heels in jail for duping lakhs of innocent depositors, new ponzi firms are still emerging to target gullible investors in Odisha. As per sources, Adarsh Cooperative Societies Limited, a Gujarat-based mobile banking company […]

Bhubaneswar: The Central Bureau of Investigation (CBI) on Wednesday grilled BJD MLA Pravat Biswal, arrested on Tuesday in connection with his alleged links with chit fund firm Seashore Group, amidst protests by the ruling party activists in front of the probing agency’s state headquarters here. In order to prevent law and order situation, the twin […]

Bhubaneswar: Raising questions on the modus operandi of the Naveen Patnaik-led BJD government in bringing people involved in chit fund case to book, the BJP today targeted BJD’s Rajya Sabha member Prasanna Acharya and alleged that the ruling party is trying to shield the culprits for vested interests. At a press meet at the party […]

Bhubaneswar: The Economic Offences Wing (EOW) of Crime Branch (CB) on Tuesday arrested Kamalakant Pattnaik, founder of chit fund company Sai Pragati, accused of duping investors of crores of rupees. Pattnaik, who works as a traffic inspector in Transport Department was arrested from Bhubaneswar today. According to sources, the EOW took up the probe after […]

Bhubaneswar: The Enforcement Directorate (ED) sleuths today grilled Banki MLA Pravat Tripathy for more than four hours in connection with the Artha Tatwa (AT) chit fund scam. According to sources, the legislator was questioned on the transactions made in his bank account with the tainted AT chit fund firm. The MLA said he presented the […]

Baripada: The family of Bartana village under Rasagobindpur block in Mayurbhanj district has finally broken its silence revealing that it was not witchcraft that forced them to a self-inflicted silence. Revealing the reason behind the family’s vow of silence, the elder son of the family Pradeep Ram said the family lost its entire savings in […]

Cuttack: After two and half years in jail, former MLA Subarna Naik will finally walk free as High Court today granted him conditional bail in Nabadiganta chit fund scam. The court granted him bail against two sureties of Rs 2 lakh each. The court has also directed the accused to deposit a cash surety of […]

Bhubaneswar: Terming the allegations of discrepancies in poll funds as malicious and fabricated, Odisha Chief Minister Naveen Patnaik today said BJD will take legal action in the matter. After returning from his 5-day New Delhi tour to attend the 200th anniversary of Paika Rebellion on Sunday, Naveen admitted to conspiracies being hatched to malign the […]

Bhubaneswar: The Supreme Court today granted bail to Pravat Das, director and brother of the Chief Managing Director (CMD) of the Seashore Group of companies in the multi-crore chit fund scam case. Hearing the bail plea of Das, the Supreme Court criticised the Central Bureau of Investigation (CBI) for its slow pace of probe into […]

Cuttack: Odisha Crime Branch (CB) has started an investigation on chit fund links of mining trader Pravanjan Mohanty. While CB is planning to take Mohanty on remand, he will be interrogated in both forgery and chit fund case informed Special DG of Crime Branch BK Sharma today. Mohanty, the managing director of JBS Mineral and […]

Bhubaneswar: After remaining under judicial custody for over four months, Trinamool Congress MP Sudip Bandyopadhyay, who was granted conditional bail from Orissa High Court on Friday in connection with Rose valley chit fund scam, returned to his home today. The Parliamentarian, who was under treatment since January 20, flew back to his home town Kolkata […]

Bhubaneswar: The Special CBI Court on Friday awarded four year jail term for Real Tulip India Ltd (RTIL) including Managing Director Tirtha Haldar. Besides, the court also sentenced four other directors of the company– Dipankar Ghosh, Malay Halder, Prasenjit Sil and Malay Kumar Guha to undergo a three year jail term. In its verdict, the […]

Bhubaneswar:  Bollywood’s chit fund link has now come to the fore with several actors found to have promoted Prayag group that duped hundreds of investors in West Bengal. From Shah Rukh Khan to Soha Ali Khan, several actors had promoted Prayag group’s ventures. According to reports, Shahrukh Khan had endorsed the Rs 1,000 crore film […]

Bhubaneswar: Things seem to be getting worse for BJD’s Mayurbhanj MP Ramchandra Hansdah as Anjan Baliarsingh, the chief of scam-tainted Naba Diganta chit fund firm on Tuesday pleaded guilty to the charges of cheating investors in the State. Highly placed sources said, Baliarsingh, while appearing before the Special CBI court here admitted guilt to all […]