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

Russia's 'Father of All Bomb' dropped on Ukraine will cause a huge destruction, 4 times more powerful than American bomb

Russia's attack against Ukraine has intensified. In this war, Russia has to face strong resistanc

Budget is against poor, favours corporates: Chidambaram

New Delhi, Feb 28 (IANS) Former finance minister and senior Congress leader P. Chidambaram Satu

Gujarat: Abusing Heera Ba is malicious, Smriti Irani said - Kejriwal's poor standard is not shocking

The politics between the ruling BJP and AAP has intensified amid a possible conch shell of Gujara

Rajya Sabha: Purchase proposals worth Rs 2.46 lakh crore approved for the armed forces in the last three years

Minister of State for Defense Ajay Bhatt said in the Rajya Sabha that the Central Government has

Due to Corona, 24 crore school children in India are studying at home, but many families do not have money to buy smartphones, not even internet

Children are studying through smartphones due to the closure of schools in India, but many famili

Neeraj Chopra: Diamond League Neeraj Chopra finished second in the Zurich Diamond League, Sreeshankar fifth in the long jump

India's star javelin thrower Neeraj Chopra finished second in the Zurich Diamond League. He quali

Chandrayaan-3: ISRO will try to wake up the lander and rover today, that's why both were sleeping

After the successful landing of Chandrayaan-3 on the Moon on August 23, the lander and rover are

IPL 2023: Nine matches left in the league round, nine teams in the playoff race; Know the equation of all teams including Chennai-Mumbai

In the 16th season of IPL, 61 matches of the league round have been played. Now only nine matches

Minister awaits panel report to seal Rafale deal

Bengaluru, Feb 18 (IANS) The defence ministry has cleared the air on buying the Rafale medium m

Weather Update: The wait is over! Rain is expected in Delhi-NCR in the next few hours, drops of relief will also fall in 10 states including UP-Bihar

Delhiites are finally going to get relief from the scorching heat. Strong cold winds and clouds h