Odisha: EOW Arrests 2 Company Directors In Chit Fund Case

Bhubaneswar: Economic Offences Wing arrested accused Suresh Chandra Sahoo and Subash Chandra Mohanty of Cuttack in chit fund case under Odisha Protection of Interests of Depositors (in Financial Establishments) Act. 

Suresh Chandra Sahoo is the Director of M/s Akash India Multi Complex Ltd. and Subash Chandra Mohanty is the CEO of M/s Akashdeep Multi-Purpose Cooperative Society Ltd. They were forwarded to the Designated Court (under OPID Act, 2011), Cuttack.

As per reports, one Debendra Kumar Nayak had filed a complaint against the companies for collecting public deposits amounting to Rs.3 Crores with assurance of payment of high returns. Subsequently, the officials of the company closed the offices and absconded misappropriating the aforementioned collected amount.

Further probe into the case is on. 

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