Home ODISHA LATEST EOW fails to nab MD, directors of fraud chit fund company

EOW fails to nab MD, directors of fraud chit fund company


Reported by Santosh Jagdev

Bhubaneswar, Apr 29:

The Economic Offences Wing (EOW) of State Crime Branch (CB) today failed to nab the CMD and directors of a Odisha-based chit fund company Green India Multistate Cooperative Society Limited who were in the city to attend a meeting here.

The  CB was tipped off  by the members of Aarthik Sansthamananka Dwara Kshatigrasthanka Milita Mancha (ASDKMM) about the presence of these culprits in a guest house in the Khandagiri area, here.

ASDKMM member on the condition of anonymity told OST that though the information had been passed to a senior official of the Crime Branch, they reached the place late enough to allow the accused the chance to flee.

“When I informed the senior official he said the case was being investigated by the Berhampur police and that they are constantly monitoring the case, ” the ASDKMM member said, adding that he also informed his superior officer who then directed some officials to reach at the spot.

” The CB officials failed to nab the culprits becasue they reached the spot 3 hours after the information was provided to them,” he said alleging the delay was deliberate.

On April 23 this month, hundreds of depositors under the banner of ASDKMM from Berhampur had gheraoed EOW of the State CB office here demanding the arrest of the owner and directors of the company.

The depositors had lodged a complaint report with the CB alleging that the police had failed to take any action against the company’s staff and the heads who were roaming around freely.

They had demanded their money back along with the seizure of the Green India property and arrest of the owner Pradeep Singh and two CEOs Sunil Kumar Panda and Trinath Panda. The members had also warned that they will resort to violent agitationif the accused are not arrested within one week.

OST’ tried to contact the CB officials for their comments but no one responded.


  1. Police and some in the lower judiciary are hand in glove with these cheats of Chitfund companies.These govt servants have assured the culprits a safe passage from the clutches of law to them. Money has cast it’s spell on all.But God is the ultimate truth. It will prevail.

  2. Mr. Muktikanta is correct, not only the police but the jail authorities of Jharapara (Bhubaneswar) are also hand in glove with these chit fund operators. Pradeep Sethy (CMD of Artha Tatwa) was on Facebook on 15.4.2014. He had posted his recent photo and sent it to his friends. When this person is in Jharapara Jail, why was he allowed to use the internet and post messages and photographs ? I have got the proof with me.


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