Reported by Santosh Jagdev
Bhubaneswar, Jun 6:
As part of its ongoing investigation into the mega chit fund scam in Odisha and West Bengal, the CBI is conducting search operations at 16 premises of Shine India Agro Industries Limited, two of them in the state.
“Searches are being conducted by CBI at 16 places, 14 in West Bengal and two in Odisha, belonging to Shine India Agro Industries Limited. The places being searched include two office premises, 10 residential premises of the Directors and two office bearers of the company,” a CBI spokesperson said in New Delhi.
Shine India Agro Industries Limited, a chit fund company, started operations in Bhubaneswar in 2012 and vanished from the state in 2013 after duped investors lodged separate complaints at the Nayapalli police station her and with Economic Offences Wing (EOW) of the state Crime Branch.
Failing to get justice from the state’s investigating agency, the investors later lodged a complaint with the CBI against the Kolkata-based non-banking financial company.
The company allegedly duped investors of more than Rs 150 crore, sources in the CBI said.
Notably, Shine India Agro Industries Limited is a public company incorporated on 29 July 2010. It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Kolkata. Its authorized share capital is Rs 100,000,000 and paid up capital is Rs 4,750,000.
Directors of Shine India Agro Industries Limited are Sajahan Midya, Kabil Patra, Niamat Ali and Dulal Senapati.