Odisha chit fund scam: Hearing on Subarna Nayak’s bail plea deferred to Dec 8

Reported by Santosh Jagdev
Bhubaneswar, Dec 3:

The District and Sessions Judge Court today deferred hearing on the bail plea of former Keonjhar BJD MLA Subarna Nayak, who is presently in judicial custody in connection with the Odisha chit fund scam, to December 8.

The court deferred the hearing on the bail plea of Nayak, one of the directors of chit fund compnay Nabadiganta Capital Services, after the senior CBI counsel asked for some time to produce documents related to the case.

Nayak, along with Mayurbhanj BJD MP Ramachandra Hansda and former Khariar BJP MLA Hitesh Bagarti, was arrested by the CBI on November 4 for his alleged link with the chit fund company Nabadiganta Capital Services.

The court also deferred the bail plea hearing of Artha Tatwa (AT) group accountant Shreekrushna Padhi to December 9.

Padhi was arrested by the CBI for his link with chit fund scam.

In a related development, the CBI Special Court sent the Odisha head of Surat-based chit fund firm Astha International Limited Subhransu Lenka to judicial custody till January 5 next year.

While coming out of the court, Lenka asked why the State Crime Branch had arrested only him while leaving the other 18 directors of his company. “Why has the state investigating agency arrested only me?” said Lenka. “I will tell everything if CBI take sme on remand,” he added.