MD, director of chit fund company held


chit fundBehrampur(Odisha)(Source: PTI) Two senior officials of a chit fund company were arrested for allegedly duping people into investing in it with false promises, police said today.

Bishnu Muni and Santosh Das, managing director and director respectively of Sujoga Reality Ltd, were arrested yesterday following the order of a chit fund court here.

The company had promised investors high returns on deposits and residential plots equivalent to the value of the deposits on maturity, police said.

The organisation had opened its office in 2011 at Berhampur. It opened branches at several places in Ganjam, Nayagarh and other districts and wound up in 2013 after two years of business.

The court had directed the police to probe the matter following a petition filed by an affected investor.

“The exact amount collected by the company is under investigation,” said investigating police officer Sushat Kumar Sahu.

The two accused were produced before the chit fund court that remanded them to five days’ police custody.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s