Odisha court rejects bail plea of Green India director again

Sambad English Bureau Published On : Sep 20, 2014 at 12:02 AM Updated On : Sep 20, 2014 at 12:04 AM

Reported by Santosh Jagdev
Bhubaneswar, Sep 19:

A trial court in the Odisha capital today rejected the bail petition of Sunil Panda, director of Green India, who has been lodged in the Jharpada jail here since August 17 after being arrested by the CBI on August 7 in connection with the Odisha chit fund scam.

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This is the second time the court has rejected the bail petition of Panda. Earlier, the court had rejected his bail on August 17 when he was produced in the court at the end of his 10-day CBI remand.

Panda, the co-accused in the case, had allegedly helped in opening the firm and cheating investors of nearly Rs 100 crore through offers of attractive returns on various schemes.

Panda, along with the Company’s CEO Pradeep Kumar Singh, had been arrested on August 7 after simultaneous raids at various offices of Green India, Panda’s residence at Ashok Nagar and Singh’s house at Ayodhya Nagar in Berhampur town.

The CBI had seized incriminating documents about the company’s dubious deals during the raids. It had also seized Rs 10 lakh and 14 cars from the accused.