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

Rohit, Umesh jump up places in latest ICC ODI rankings

Melbourne, March 31 (IANS) Indian opener Rohit Sharma and right-arm pacer Umesh Yadav made an u

IOC session 2023: 140th meeting of the International Olympic Committee will be held in Mumbai, India will host after 40 years

The 140th meeting of the International Olympic Committee will be held in Mumbai. During the 139th

PM Modi: PM Modi's vigorous campaign with 183 rallies-road shows and 80 interviews, now he has reached Kanyakumari to meditate

After the campaign for the general election ended, PM Modi reached Kanyakumari to meditate. In Ka

Bangladesh hatched a nefarious conspiracy regarding the Durga Puja festival, and the Hindu community got a big shock

After the fall of the Sheikh Hasina government, relations between Bangladesh and India have conti

UP Assembly Elections 2022: Why Karhal is 'driving seat' for Akhilesh Yadav, SP's 'blueprint' to win 100 seats from East to West

UP Elections 2022: The electoral struggle of Uttar Pradesh has started. The era of politics and c

MHT CET Result 2023: Maharashtra Joint Entrance Exam result for PCM, PCB declared, check this way

The results of the entrance examination conducted for Physics, Chemistry and Mathematics (PCM) an

Bilawal Bhutto: 'His statement, his wish...': Read what Bilawal said after returning to Pakistan after being surrounded on terrorism in India

Bilawal Bhutto Zardari, who was on a two-day visit to India to participate in the Shanghai Cooper

What is expensive, what is cheap: gold and silver will be cheap; Mobile phones will be expensive, but phones will be made more than ever in the country

The budget has arrived. Like every time, some things have become cheaper this time, some more exp

Gadar 2: After Gadar 2, will Tara Singh's hammer work in Gadar 3 as well? Sunny Deol's answer increased the restlessness of the fans

Actor Sunny Deol, who got his two and a half kilos of iron in Bollywood, is making a lot of headl

India Vs West Indies T20: Why did West Indies lose in the 3rd T20I? Captain Rovman Powell explained the reason and blamed the defeat on the batsmen

IND vs WI T20I Series 2023: The West Indies team, which performed brilliantly in the first two ma