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

Fiji told the importance of relations with India, said on the discussion of China - wrong thing...

Fiji's Prime Minister Sitweni Rabuka thanked his old friend India on Thursday. India's External A

Cop rapes woman in Delhi

New Delhi, Feb 26 (IANS) A woman in her 30s was raped by a Delhi Police head constable, police s

Nuh Violence: The statement of Monu Manesar, which became the reason for the ruckus, even the police could not do anything in front of the crowd of miscreants.

The ground for Monday's disturbance in Nuh was prepared a day earlier. Monu Manesar, who was accu

Taxes will not be levied on oxygen concentrators coming from abroad for personal use, Delhi HC declares Center decision illegal

IGST (Integrated Goods and Services Tax) will no longer be levied on oxygen concentrators coming

Doctor Murder Case: Former officials and judges demanded justice in the Kolkata rape case, raising questions on the working style of the Mamata government

295 eminent personalities including former High Court judges, and former bureaucrats have demande

Ramadan 2023: Exhibition of rare manuscripts of handwritten Quran started at Srinagar SPS Museum

The Shri Pratap Singh Museum in Srinagar on Thursday launched an exhibition of rare manuscripts o

Uttarakhand and Delhi summoned on hate speech in Parliament, Supreme Court seeks reply in four weeks

The Supreme Court has sought a response from the Uttarakhand, Delhi government in four weeks on t

Pakistan: Big relief to Pakistan facing a cash crunch, the agreement reached on $3 billion agreement with IMFF

Pakistan, which is facing a cash crunch, has got a big relief. A staff-level agreement has been r

RSS chief insulted all who work for poor: Christian group

Mumbai, Feb 24 (IANS) The Indian Christian Voice (ICV) Tuesday reacted sharply to RSS chief Moh

Petrol Diesel Price: Petrol-Diesel became cheaper in UP-Bihar, know the prices of other cities including Delhi

In the global market, there has been a big fall in the prices of crude oil during the last 24 hou