Tuesday, February 18th, 2020

CBI files a chargesheet in a chit fund case

INVC NEWS New Delhi, The Central Bureau of Investigation has filed a chargesheet u/s 120-B, 420, 409 of IPC, section 66 of IT Act and section 4,5,6 of Prize Chits & Money Circulation Schemes (Banning) Act, 1978 in the Court of Special CJM, CBI Cases, Bhubaneswar, against the then Managing Director of a private network firm based at Delhi; then Director of the firm and the firm represented through then MD. It was alleged that the accused unauthorisedly and illegally collected public deposits to the tune of Rs.47,88,04,286/- (approx.) during the financial year 2006-07 to 2009-10 including collection of Rs.42,30,000/- from 46 investors of Odisha and cheated them. It was further alleged that the accused did not return the invested amounts and also misappropriated the collected deposits. CBI had registered the case on 05.06.2014 in compliance with the orders of the Hon'ble Supreme Court of India passed on 09.05.2014 in WP(C) No. 401 of 2013, and had taken over the investigation of the case which was earlier registered against the private firm at EOW, Odisha Police, Bhubaneswar relating to Chit Fund Scam of Odisha State. Further investigation is continuing.



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