SHARE

Odisha Sun Times Bureau
Bhubaneswar, Mar 14:

The Khurda District and Sessions Judge Court today rejected the bail plea of former Biju Janata Dal (BJD) MLA from Keonjhar Subarna Naik, who has been arrested on charges of his links with the financial fraud committed by Odisha-based chit fund firm Nabadiganta Capital Services.

The CBI, probing into the mega chit fund scam in the state, had arrested the former legislator on November 4, 2014.

Naik was one of the directors of Nabadiganta Capital Services, which had collected about Rs 15 crore through its branches located in undivided Puri and Cuttack districts between 2011 and 2013.