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

Mission Impossible 8 Worldwide Collection: Tom Cruise's mission was a success, dominating foreign markets on the third day

Huge crowds are flocking to the theatres to watch Tom Cruise in the role of Ethan Hunt in 'Missio

The government increased DA before Diwali, salary will increase from this day; Is there a connection to the election

Before Diwali, the Modi government gave a 4 percent increase in dearness allowance to central emp

Weather Update: Fog in Delhi-NCR in May, rain completed 30 days quota in three days, it will rain even today

The rains in Delhi in the three days of May have fulfilled the quota for the entire month. Normal

Attacks in the Valley increased: Suspicion to Indian Army - Pakistani army commandos are giving training to terrorists

It has been a few days more than a week when there has been a sudden spurt in terror attacks and

Pathaan Vs Tiger: Shahrukh-Salman's action sequence is a frame-to-frame copy! Stolen from this superstar's series

The audience's desire to see Salman Khan and Shah Rukh Khan together on screen was fulfilled by t

Corona: Why is the second wave in India so dangerous and fast?

The coronavirus epidemic in India has been over a year. On 22 March 2020, a lockdown was imposed

Action sought against two lawyers for derogatory remarks on women

New Delhi, March 20 (IANS) The Supreme Court Women Lawyers Association on Friday sought action

Shiv Sena smells scam in centre's LED project

Mumbai, March 19 (IANS) The Shiv Sena on Thursday said it suspects major irregularities in a p

Punjab-Haryana face to face on stubble burning: CM Manohar said – only 10% is burning in Haryana; More than 13 thousand cases in Punjab

Punjab and Haryana have again come face to face over the pollution of stubble burning in the fiel

Uttarakhand: Poisonous gas leak in Rudrapur, 18 people unconscious so far, SDM also complains of vomiting

Gas Leak In Rudrapur: In the Rudrapur transit camp of Udhamsinghnagar district in Uttarakhand, a