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

World Cup: Southee, McCullum crush England

Wellington, Feb 20 (IANS) A stunning display of swing bowling from seamer Tim Southee and devas

Now Taliban fighters arrived in the gym to workout, people said - do this too

The Taliban have taken control of Afghanistan. There is an atmosphere of panic in the whole count

IPL 2022 SRH vs RR: Rajasthan and Hyderabad look to start with a win

Rajasthan Royals, with multiple match-winning players, will take on Sunrisers Hyderabad on Tuesda

Chinese Army Reaches From Pangong Tso Reaches Rootog Base In Large Number, Satellite Picture Revealed

Open-source intelligence sites‌ have released a satellite image of China's Rootog base. It c

Sri Lanka-like situation may arise in Pakistan in the coming days, IMF issued a warning

Pakistan is currently facing an extreme economic crisis. Here the rate of inflation has reached 2

How the Brahmin period in UP ended: 21 Chief Ministers in UP so far, maximum 6 Brahmins, then what happened that in the last 32 years not a single Brahmin CM

The Chief Ministers of UP have two tenures. First- Brahmin period, 1946 to 1989, ie 39 years. In

PM Modi: PM Modi expressed concern over reports of the Russian President's residence being targeted and said this...

Prime Minister Narendra Modi has expressed concern over reports of an attack on the Russian Presi

Cameron Green: After being bought for ₹25.20 crore, Cameron Green was dismissed for a duck in his very first innings, facing only two balls.

Australian all-rounder Cameron Green failed in the third Ashes Test. In the first innings of the

Monkeypox: Changes in Congo strain of monkeypox, many patients do not have symptoms, Indian scientists are studying

Monkeypox: Scientists in many countries of the world have seen significant changes in the Congole

10 lakh jobs in one and a half year: Modi government's big bet before elections in 11 states, also looking at 2024

There is good news for the candidates preparing for the government job. In the coming 1.5 years,