Bhubaneswar: The Economic Offences Wing (EOW), Bhubaneswar has arrested the Managing Director of Diya Dairy And Agroprocessor Pvt. Ltd. in connection with a cheating case of more than Rs 100 crores relating to Sambandh Finserve Pvt. Ltd.
The accused Amrita Kindo was arrested from Bhubaneswar on Sunday and subsequently remanded to judicial custody by the court of SDJM, Bhubaneswar.
As per a complaint registered on the basis of a written allegation of the complainant on behalf of Annapurna Finance Pvt. Ltd., Khandagiri, accused Deepak Kindo, MD of Sambandh Finserve Pvt. Ltd., Chandaka Industrial Estate, Chandrasekharpur, Bhubaneswar had fraudulently availed loan to the tune of Rs. 5 crores from Annapurna Finance Pvt. Ltd. on the basis of forged documents and misappropriated the same without refunding the amount to Annapurna Finance Pvt. Ltd.
Investigation of the case revealed that both the complainant and accused Companies are registered with RBI as NBFC-MFI. Deepak Kindo is the Managing Director of Sambandh Finserve Pvt. Ltd. During the year-2020, the accused company approached the complainant company for a loan of Rs 5 crores for the purpose of carrying on financial activities effectively by giving loans to different SHG and Joint Liability Groups.
However, after availing the loan/ finance, the accused company violated the terms and conditions of finance and misappropriated the amount without making a repayment. It has also been ascertained the accused company had furnished forged documents to avail the loan.
During the course of the investigation, it has also been ascertained that the accused company i.e. Sambandh Finserve Pvt. Ltd. represented through its MD during the period from 2015-2020, in a similar manner had raised funds of more than Rs 100 crores from different investors/ lenders like 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 same by diverting the amounts to their sister concerns.
It has also been ascertained that the present accused Amrita Kindo is the wife of Deepak Kindo and the Managing Director of Diya Dairy And Agro Processor Pvt. Ltd., a sister concern of Sambandh Finserve Pvt. Ltd.
During the year-2017 to 2020, out of the loan amounts availed by the accused company, an amount of Rs 22.72 crores have been diverted to the accounts of Diya Dairy And Agro Processor Pvt. Ltd. and misappropriated. The investigation is still underway.
