Court Grants Oscar Chit Fund Chief’s 5-Day More Remand

**Bhubaneswar:** The Economic Offence Wing (EOW) of Odisha Crime Branch (CB) on Wednesday reproduced Oscar chit fund firm’s chief Pravas Rout as his five-day remand granted by the Special Chit Fund Court in Cuttack ended.

While CB had applied for seven-day more remand of Pravas, the Special Chit Fund Court in Cuttack granted five days.

CB on Tuesday had also arrested three directors of the infamous firm and they were also forwarded to the same court today.

As per reports, EOW also applied for three-day remand of one of the three directors and was granted.

On the last day of Pravas Rout’s five-day remand, CB Special DG B.K. Sharma was personally present during the vis-a-vis grilling of Pravas and three directors Kirti Ranjan Bastia, Taraprasad Hota and Abani Patnaik.

Hota’s three-day remand was also sought by the EOW along with Pravas.

Quizzing of Pravas has revealed that Oscar had five companies and eight organisations and the arrested three directors managed them accordingly.

The directors were arrested by EOW sleuths on Tuesday.

Notably, CB Special DG B.K. Sharma had also personally interrogated arrested Oscar chit fund firm chief Pravas Rout on the fourth day in presence of the two investigating officers (IOs) and CB IG Arun Bothra.

Pravas has revealed that he has close links and financial transactions with several builders and land mafia, sources said.

Besides, three teams have been formed for further probe into the Oscar chit fund’s modus operandi in Odisha, Maharashtra and Gujarat.

One team led by a DSP will rush to Gujarat for investigation and gather information on his activities as Oscar had over 30 branches there.

Notably, Pravas has swindled over Rs 230 crore from the chit fund investors and was recently arrested by the CB sleuths from a Delhi-based temple where he was staying incognito for a year and half.

Meanwhile, his five-day long remand and grilling has exposed his allegedly unholy nexus with several Olywood stars and the glamour industry.