Tag: Chit Fund

Bhubaneswar: More than 1,200 small depositors duped by chit fund companies in Odisha have been refunded their money, as per the report of Justice MM Das Commission of Enquiry, which is probing into the multi-crore chit fund scam. As per the third interim report of the panel released today, as many as 22 various chit […]

Bhubaneswar: In a latest development, the special CBI CJM court here, pronouncing judgement on the multi crore Astha Chit Fund scam, sentenced company’s Managing Director Santosh Sapkale and Director CS Chouhan for five years of imprisonment along with a fine of Rs 15,000 each. The court has ordered three more months of imprisonment for the […]

Bhubaneswar: While the investigation into the multi-crore chit fund scam is still on, the chairman of multi-state credit cooperative society Swastik India Ranjan Das was allegedly attacked in Jharpada jail in the Capital city. In a letter to ADG (Prison), wife of Dash, Monalisha accused one Biranchi Nayak of Jatni of extorting inmates in the jail. […]

Bhubaneswar: After he was shunted out in May 2015 while conducting probe as CBI SP into multi core chit fund scam in Odisha, Manish Kumar Sinha has returned as the DIG of CBI’s Special Investigation Team (SIT) here. His return to the investigation team after a gap of almost two years may be a normal […]

Cuttack: The Cuttack district administration has filed a petition in the Chit Fund Court for confiscation of landed properties of about Rs 4 crore of the Hi-Tech Group. In the petition, the Additional District Magistrate (ADM), Cuttack who is the Special Empowered Authority, has sought the permission of the Court to confiscate 55 acres of […]

Bhubaneswar: A team of Serious Fraud Investigation Office (SFIO) today again interrogated the chief and other office bearers of chit fund company Artha Tatwa (AT) group, which allegedly duped about Rs 400 crore from investors in Odisha, for third consecutive day over alleged violation of Company Act. The investigating team hinted at registering fresh case […]

Bhubaneswar: Central Bureau of Investigation (CBI) on Sunday brought Odisha-based tainted chit fund company Green Ray International Ltd (GRIL)’s Managing Director (MD) Mir Shahruddin, who was arrested in Kolkata, to Bhubaneswar on transit remand. According to sources, the central probe agency will take him on a remand after producing him before court today. The dubious […]

Bhubaneswar: The Justice MM Das Commission of Inquiry, probing the multi-crore chit fund scam in Odisha, submitted its second interim report to the State government on Friday. According to sources, secretary of the commission Debraj Rout submitted the second interim report to Home department Special Secretary Lalit Das at state secretariat here. Talking to newsmen […]

Bhubaneswar: Ahead of the February panchayat polls, the ruling Biju Janata Dal (BJD) and Opposition Bharatiya Janata Party (BJP) have indulged in mudslinging over the recent ‘expedited’ activities of Central Bureau of Investigation (CBI) and State Crime Branch in the State. While the regional party hinted at Union Minister Dharmendra Pradhan’s hand behind the Central […]

Bhubaneswar: The special CJM court (CBI) today rejected the bail application of Rose Valley chit fund scam accused and Trinamool Congress MP Sudip Bandopadhyay and remanded him to the judicial custody till January 25. The CBI had taken Bandopadhyaya on a four-day remand for interrogation in connection with the multi crore ponzi scam. Sources said […]

Bhubaneswar: The officials of Central Bureau of Investigation (CBI) on Thursday conducted raids at 25 places in Odisha including the residence of ruling BJD’s Balasore MP Rabindra Jena and Choudwar-Cuttack MLA Prabhat Biswal in connection with multi crore Seashore chit fund scam. CBI sources said, houses of several persons, including chief minister Naveen Patnaik’s office […]

Bhubaneswar: Intensifying its probe into multi-crore Seashore chit fund scam, the Central Bureau of Investigation (CBI) on Thursday conducted simultaneous raids at 25 places in and outside Odisha. According to reports, the central probe agency is also searching house of Balasore MP Rabindra Jena for his nexus with the ponzi firm. Also read: Seashore scam: […]

Bhubaneswar: The special CJM (CBI) court today rejected the bail petition of Rose Valley chit fund scam accused and TMC MP Tapas Pal again for the second time. The court had reserved the verdict of the bail hearing yesterday. Tapas, who is under judicial custody after being arrested by the CBI in the multi crore […]

Bhubaneswar: Special CJM court (CBI) here today rejected the bail plea of Trinamool Congress (TMC) MP Tapas Pal and sent him to 3-day CBI custody in connection with the multi-crore Rose Valley chit fund scam. The Central investigating agency, which arrested Pal yesterday for his alleged involvement in the tainted ponzi firm, brought to the […]

Cuttack: The special chit fund court set up to conduct hearing on the multi-crore ponzi scam in Odisha, made its first conviction today. The court convicted chit fund company Shirdi Sai Real Estate’s MD, Prakash Panda. Panda has been sentenced to a jail term of 5 years along with a fine of Rs 3 lakh. […]