Odisha court allows Maharashtra EOW to take MFL director on 3-day remand

Reported by Santosh Jagdev
Bhubaneswar, Mar 17:

The SDJM court in the Odisha capital today allowed the Economic Offences Wing (EOW) of Maharashtra Crime Branch (CB) to take arrested director of Micro Finance Limited (MFL) Baikunthanath Patnaik on a three-day transit remand for producing him before a court in Jalgaon in Maharashtra on March 19.

micro finance

Later Patnaik will be interrogated by the EOW Maharashtra in connection with a case of cheating the public in the western state.

Maharashtra CB team had raided his hideout and nabbed him from Mancheswar area yesterday.

According to CB officials, Baikunthanath was arrested for cheating an investor Mangal Singh of Chalisgaon area in Maharashtra state of Rs 10.34 lakh promising to provide him hefty returns on his money. He had collected the money from Singh through a scheme from the Chalisgaon branch of MFL where he was a director.

A cheating case was registered at the EOW of the Maharashtra CB in December last year after the accused failed to return Singh’s deposited amount along with interest.

On March 30 last year, the EOW of Odisha CB had arrested Baikunthanath for cheating investors in Odisha. However, later Patnaik was released from Jharpada jail after he was granted bail by a city court here.

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