Odisha chit fund scam: Charge sheet against Micro Finance Ltd

Posted on 13th Feb 2015 11:54 am by mohit kumar

Bhubaneswar, Feb 12 (IANS) A Special Investigation Team of the CBI Thursday filed a preliminary charge sheet against chit fund company Micro Finance Ltd. in connection with the multi-crore-rupee chit fund scam in Odisha.

The preliminary charge sheet, which was filed in the special Central Bureau of Investigation (CBI) court here, said the company duped investors of at least Rs.400 crore by floating six companies in the state that includes Micro Leasing and Funding, Micro Hotels, Micro Constructions, Micro Hospitals and Micro Media.

The charge sheet named five people including former CMD of the company, Durga Prasad Mishra, his brother Upendra Mishra and son Kaliprasad Mishra, CBI sources said.

It also named two others people -- Ashok Patnaik and Baikunthanath Patnaik -- both directors of the company.

They were charged under various sections of the Indian Penal Code and the Prize Chit and Money Circulation (Banning) Act, 1978.

"This is the preliminary charge sheet and we will file the final charge sheet after completion of inquiry," a CBI official said.

Other news

Australian batsman try helmets with neck safety feature

Hobart, March 12 (IANS) Australian cricketers on Thursday tried out a new helmet attachment that

Six get 10-year jail term in Odisha gang rape

Bhubaneswar, March 19 (IANS) A court in Odisha has sentenced six people to 10 years in prison f

New rules have been implemented in Delhi for pollution control; who has been exempted from the latest restrictions?

Strict rules have been implemented in the national capital from Thursday (December 18) to control

Rupee at All-time Low: Rupee closed at a historical low, closed at 77.73 against one dollar

Rupee at All Time Low: The fall in the rupee against the dollar is not taking its name. The India

Second Day of Parliament Action: Demand to enact population control law in Lok Sabha; Discussion on amendment in Wildlife Protection Act in Rajya Sabha

The winter session of Parliament began on Wednesday, 7 December. This session is going to last fo

Google Pixel 4a 5G can be launched in India on this date, to compete with OnePlus Nord

Tech giant Google has launched its two new Pixel phones Pixel 5 and Pixel 4a 5G in the global mar

Netflix: Netflix suffered a setback, more than nine and a half million users said goodbye in the second quarter

Netflix suffered a major setback in the second quarter. According to the report, 970,000 users le

IMA On Doctors Safety: '35% of doctors in India feel unsafe during night shifts', in most cases women

One-third of doctors working night shifts in India, mostly women, feel unsafe. This has come to l

Putin trembled as soon as the bridge was broken: for 8 years the occupation of Crimea was the life-line; The main supply route of the Russian army is also

On October 8, 2022, an explosion occurs on the Kerch Bridge connecting Russia with Crimea. A part

PM Modi will distribute appointment letters to more than 71 thousand youth today, employment fairs will be held at 45 places across the country.

Prime Minister Narendra Modi will distribute more than 71 thousand appointment letters for new re