Odisha CB arrests Katloon chit fund firm chief

Odisha Sun Times Bureau
Bhubaneswar, Sep 15:

The Economic Offences Wing (EOW) of the Odisha Crime Branch today arrested Kailash Chandra Sethy, chief of Katloon Management and Financial Services Pvt Ltd, a firm which has allegedly duped depositors of over Rs 5 crore.


According to reports, the company was registered at Registrar of Companies, Cuttack in November, 2010 and had opened its branches in Bhubaneswar and Ganjam.

One Ramakrushna Pani had lodged a complaint against the firm at Buguda police station alleging that it duped many depositors to the tune of Rs 5 crore by promising hefty returns on deposits.

The EOW arrested Sethy on the basis of the complaint, sources said.

Notably, Aswini Kumar Nayak, one of the directors of the company, was arrested by Ganjam police in July 2015.

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