Two chit fund company officials arrested in Odisha

Sambad English Bureau Published On : Dec 1, 2014 at 9:09 PM Updated On : Dec 1, 2014 at 9:22 PM

Odisha Sun Times Bureau
Baleswar, Dec 1:

Police today arrested two officials of a chit fund company from Odisha’s Baleswar district.

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The arrested officials, identified as Bhagaban Pradhan and Debisankar Parmanik, branch manager and regional manager respectively of MGL Infra Private Ltd, were arrested following a complaint by a resident of Nuapadhi village in Remuna area of the district.

Police later registered a case under various sections of the IPC, and Prize, Chit and Money Circulation (banning) Scheme Act 1978, and seized a luxury car of the company.

According to police, the company has duped the depositors of about Rs 13 crore.

Earlier in September this, year, the police had arrested Subash Mallik, CMD of the company.