SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

odisha.map.thumb.jpg Odisha chit fund scam: CBI takes businessman on remand

chit.fund.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 16 Sep, 2014
A court Bhubaneswar, Monday allowed the CBI to take the owner of a media house on remand for 10 days for his alleged role in the multi-crore-rupee chit fund scam in Odisha.

The special chief judicial magistrate in Bhubaneswar remanded Madhu Mohanty, a real estate developer and owner of Odia daily Odisha Bhaskar, to the Central Bureau of Investigation (CBI) custody.

Mohanty and Manoj Das, the owner of Kamyab TV, a local television channel, were arrested by the CBI Sunday. The court will Tuesday decide on the bail plea of Das.

The CBI is investigating the chit fund scam on the direction of the Supreme Court.

The scam came to light after a large number of investors last year complained that many firms collected huge amounts of money from them promising high returns, but later refused to pay them back as promised.

The CBI is probing at least 44 companies in Odisha. They include Kolkata-based Saradha Group, and Odisha-based Seashore and Artha Tatwa groups. The loss from the scam is claimed to be running into thousands of crores of rupees.

Both Mohanty and Das have been arrested for their alleged link with the Artha Tatwa group.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter