Tag: Chit Fund

Kolkata: The Central Bureau of Investigation on Thursday arrested Suman Chattopadhyay, editor of a leading Bengali daily, in I-Core Group chit fund scam, an official said. Chattopadhyay had allegedly received money in his bank accounts from the chit fund firm, the agency’s spokesperson Abhishek Dayal said. Chattopadhyay, also a director in Disha Productions and Media […]

Kolkata: The Enforcement Directorate (ED) on Thursday claimed it has found incriminating documents, gold ornaments and precious stones worth Rs 40 crore during searches at showrooms of Adrija Gold Corporation in connection with the Rose Valley chit fund case. “ED recovers and seizes incriminating documents, 72 kg of 22 carat and 18 kg of 18 […]

Mumbai: The CBI on Wednesday arrested Mahesh Kishan Motewar, chairman and managing director of Pune-based Samruddh Jeevan Foods India Ltd., from Odisha capital Bhubaneshwar in connection with a probe into the Rs.1,500 crore ponzi scam, an official said here. He has been booked on cheating, criminal conspiracy and other charges under various sections of the […]

Bhubaneswar: The Odisha government has extended the tenure of the judicial commission probing into the multi-crore chit fund scam by next six months with effect from February 5. A notification in this regard was issued by the Home department here on Saturday. “Tenure of Hon’ble Justice (Retd.) M M Das Commission of Inquiry on unauthorised […]

New Delhi: The government is drafting a central law to protect people investing in chit fund schemes and will bring the legislation very soon to Parliament, Finance Minister Arun Jaitley said today. Replying to a debate on ‘The Banking Regulation (Amendment) Bill, 2017’ in the Lok Sabha, he said there is a need for a […]

Berhampur: A special court here, designated to hear cases related to chit fund scam, today ordered public auction of properties of a ponzi scheme firm. Special Judge P K Patnaik pronounced the order on a plea filed by additional district magistrate (ADM), Ganjam, Saroj Mishra seeking the court’s permission to sell the properties of Katloon Management […]

Cuttack: The Gujarat police today for a second time took into custody Oscar Group of Companies chairman Pravash Rout in connection with several chit fund scam cases pending against him in a Valsad court. Arrested by the Odisha police in June this year from New Delhi, Rout had also been taken on a 15-day remand […]

Cuttack: The Orissa High Court today issued notice to the state government to file counter on a petition challenging the constitutional validity of a legislation that arms the state to initiate punitive action against those embezzling public money by floating shady financial firms and subsequent rules framed on it in 2013. A Division Bench headed […]

Cuttack: The Odisha government suffered a setback yet again today when not a single bidder turned up to participate in the e-auction of the attached properties of a tainted chit fund company. Immovable properties worth Rs 1.55 crore of M/s Safex Infra India Ltd were listed to be auctioned to public on the day. But […]

Nuapada: Chaouban Majhi, a resident of Sanbahal village is now running from pillar to post after he lost all his savings to a ponzi company. Majhi, who was reportedly displaced by the Lower Indra project, had deposited the compensation money in Vista Management Services Limited. “I had deposited Rs 2 lakh in Vista after its […]

Bhubaneswar: With the Justice MM Das Commission of Inquiry probing the multi-crore chit fund scam in Odisha extending the deadline for receipt of affidavits from depositors duped by chit fund companies to January 31, duped depositors have now threatened to launch a stir if their money is not returned by February. The Commission’s deadline was […]

Bhubaneswar: Gujarat Vadgam MLA Jignesh Mevani launched a scathing attack on the BJP-led Central government and the BJD-led Odisha government alleging that there is a secret nexus between both the parties. Targeting the ruling-BJD during a public meeting at Swadhinata Sangrami Ground in Bhubaneswar on Tuesday, Jignesh alleged that the Odisha government failed to provide […]

Shillong: Kolkata Police Commissioner Rajeev Kumar was on Saturday questioned for eight hours by the Central Bureau of Investigation (CBI) here in the chit fund scam, and has been asked to appear again on Sunday for further examination. Former Trinamool Congress MP Kunal Ghosh, who was arrested in November 2013 in connection with Saradha and […]

Bhubaneswar: The Justice MM Das Commission of Inquiry, which is probing the multi-crore chit fund scam in Odisha, today informed that it will take around 2-3 years to identify all the affected small investors. After submitting its sixth interim report to the state government, Justice MM Das, while addressing a press meet, informed that 50% […]

Bhubaneswar: After extending support to the National Democratic Alliance (NDA) nominee Om Birla’s candidature for the Lok Sabha Speaker’s post, the Biju Janata Dal (BJD) has now given its nod to PM Modi’s ‘one nation one election’ policy. While it seems a usual process in a federal structure like India, these have made many ponder […]