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

Bahraich Violence: Violence had erupted in Bahraich 41 years ago in October... This is why indiscriminate firing took place.

Last Sunday, in the Maharajganj town of Bahraich, after stone pelting during the Durga idol immer

Rohit Sharma calls R Ashwin, who broke Kapil Dev's record in Tests, the greatest player of all time

After winning the first Test under his captaincy, Rohit Sharma said, 'It was a good start and we

Terrorist attack in Kabul: Two blasts near Gurdwara Kart-e-Parwan, Muslim guard killed; Fear of being trapped inside Sikh Sangat

There has been a terrorist attack on Gurdwara Karta Parwan in Kabul, the capital of Afghanistan.

Veer guardian 2023: For the first time, India's women's power will roar outside the country, and women pilots will participate in the exercise

For the first time, women fighter pilots of the Indian Air Force will participate in an exercise

Weather Update: Cyclonic storm Hamoon becomes dangerous, alert of heavy rain from Bengal to Tamil Nadu; Know the condition of other states including Delhi-UP

Changes are being seen in the weather of many states of the country. Light cold continues in the

Ind vs Eng 5th Test: Ashwin-Johnny will score special 'centuries' in Dharamshala, history will be repeated after 11 years in Test cricket

The last Test of the ongoing five-match Test series between India and England (Ind vs Eng 5th Tes

Shubman Gill's rip at number three flopped even after advice from Rahul Dravid and veteran cricketer

Shubman Gill Flop Show Ind vs WI 1st Test Cheteshwar Pujara considered the wall of the Indian Tes

Pakistan Army: Munir's army launched airstrikes against Pakistanis, dropping bombs on sleeping civilians; 30 killed.

Shocking news has emerged from neighboring Pakistan. The Pakistani Air Force has bombed its own c

Indian Army is firmly standing at a height of 17 thousand feet in Arunachal Pradesh, China's attempt is failing

Defense Minister Rajnath Singh held a high-level meeting with the NSA, the Army Chief, and the CD

NCP took a jibe at the removal of Nitin Gadkari from the parliamentary board, and could not see the growing stature

The NCP has taken a jibe at the removal of Nitin Gadkari, one of the top BJP leaders from the par