Bhubaneswar: Deepak Kindo, the Managing Director of M/s Sambandh Finserve Pvt. Ltd., was arrested by the Economic Offences Wing (EOW), Bhubaneswar, from Luludiha area in Sundargarh in connection with loan fraud to the tune of over Rs 100 crore.
Deepak was allegedly absconding following the registration of a case on the allegation of fraudulent availing of loan to the tune of Rs 5 crores on the basis of forged documents by Sambandh Finserve Pvt. Ltd. from Annapurna Finance Pvt. Ltd. and misappropriation of the same.
Sambandh Finserve Pvt. Ltd. represented through its MD Deepak Kindo, in a similar manner had fraudulently raised funds of more than Rs 100 crores from different investors/ lenders including Annapurna Finance Pvt. Ltd. (the complainant company), DCB Bank, SIDBI (Small Industries Development Bank of India), BOPA PTE Ltd. (a Singapore based Company) and DIA Vikash Capital Pvt. Ltd., etc. and misappropriated the said amount, without using it for the purpose it was availed.
Earlier in this case Amrita Kindo, wife of Deepak Kindo has been arrested, who has misappropriated a considerable amount by way of diverting the amount to her business account.
During the investigation, the EOW identified and froze 47 accounts of Deepak Kindo, his wife Amrita Kindo, close relatives maintained in their own names as well as in the names of their business establishments/firms/companies with different nationalised and private banks.
