Reported by Santosh Jagdev
Bhubaneswar, Aug 9:
The Special Judicial Magistrate (SJM) court in the Odisha capital Friday allowed CBI officials to take Green India company directors Pradeep Singh and Suneel Panda on a 10-day remand for interrogation.
The ruling by the SJM court came on a request letter of CBI lawyers who had pleaded with the court to allow them to take the company directors on 14 days’ remand.
After apprehending the directors in a raid at their residences in Berhampur Thursday, CBI produced them at the SJM court on Friday.
Thursday, nine teams of CBI had conducted simultaneous raids at the branch offices of Green India, a chit fund company and the residences of company directors Pradeep at Ayodhya Nagar and Suneel at Ashok Nagar in Berhampur city, in Bhubaneswar and Berhampur and arrested them.
The investigating agency had seized Rs 10 lakh in cash, 14 costly four-wheelers, an apartment in Sundarpada area, valuable land in Bhubaneswar and Berhampur and several incriminating documents from the directors during raid, sources said.
The company had allegedly duped gullible investors of nearly Rs 100 crores through their nine branches run in the state by raising fixed deposs (FDs), recurring deposit (RDs) and promising them houses and land loans under different schemes floated by it, the sources added.