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Monday, September 28th, 2020

CBI files a supplementary chargesheet in one of the chit fund cases of odisha

New Delhi,
The Central Bureau of Investigation has filed a supplementary chargesheet in the Designated Court, Bhubaneswar against three private persons including a representative of a hotel and then Honorary Secretary of Odisha Cricket Association alongwith Odisha Cricket Association under relevant sections of IPC and Prize Chits & Money Circulation Schemes (Banning) Act, 1978 etc. in an on-going investigation of a chit fund case.

CBI had registered the instant case against Odisha based group of companies and others in compliance to the orders of Hon�ble Supreme Court passed on 09.05.2014 in WP(C) No. 401 of 2013.

During course of further investigation, it was alleged that the Odisha Cricket Association through its Honorary Secretary and in criminal conspiracy with Odisha based Group of Companies, promoted the said Group of Companies so that the credibility of the companies rose in the eyes of general public and more people invested in the different schemes floated by said Group of Companies. In lieu of the same, they allegedly received a sum of Rs. one crore (approx.) from the said Group of Companies in the garb of sponsorship of the Odisha Ranjit Cricket Team and title sponsorship of Odisha Premier League, 2011. It was also alleged that the representative of a hotel in criminal conspiracy with other co-accused private persons was actively involved in the misappropriation of the immovable properties of the said Group of Companies at Balasore & Bhubaneswar and therefore, became a partner to misappropriate the said properties purchased out of the funds of the said Group of Companies. In furtherance of the criminal conspiracy, the said accused allegedly misappropriated the sale proceeds of two immovable properties.

Earlier, six chargesheets including 4 supplementary chargesheets have been filed by CBI against 33 accused persons including eight companies/firms of the said Group of Companies (one of the prominent chit fund companies operating in the State of Odisha).

The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.




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