Odisha Sun Times Bureau
Bhubaneswar, July 28:

The Central Bureau of Investigation (CBI) today launched simultaneous raids on offices of chit fund company Micro Finance Ltd across Odisha today.

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According to reports, the sleuths conducted raids at seven places across the state.

Two places in Bhubaneswar, three in Jaleswar, one each in Balasore and Khurda were raided. Besides, the residences of some of the directors of the company were also searched, sources added.

Notably, the central agency continued its raid in connection with Rs 300 crore fraud in Ranchi in Jharkhand.

It may be recalled that CBI in February last year had filed a preliminary charge sheet against Micro Finance Ltd. in connection with the multi-crore-rupee chit fund scam in the state.

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.