Home ODISHA LATEST Odisha chit fund scam: Builder Sagar Ray sent on 12-day judicial custody

Odisha chit fund scam: Builder Sagar Ray sent on 12-day judicial custody

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Reported by Santosh Jagdev
Bhubaneswar, Nov 28:

The special CBI court here today sent Sagar Ray, the city builder arrested on November 14 in connection with the Odisha chit fund scam, to 12-day judicial custody. He will stay in Jharpada jail till December 9.

File Pic of Sagar Ray
File Pic of Sagar Ray

A medical test was conducted on Ray before he was produced in the court this afternoon at the end of his extended remand. The court had extended his remand period by two days on Wednesday.

On November 15, the same court had allowed the CBI to take Ray on a 12-day remand.

CBI senior counsel KC Mishra today said hearing on Ray’s bail plea was postponed to December 1 as his lawyer Sitanshu Mohan Dwivedy has sought more time from the court.

Ray, a director in Orisons Properties Limited, a city based real estate firm, who was arrested by the CBI for his dubious deals with the Artha Tatwa (AT) group, will be produced in the court on the end of his judicial custody term.

Ray, under CBI scanner for his alleged involvement in the land deals of the AT Group and construction of apartments and duplex houses in the city, had appeared before the CBI on November 14 and was arrested after a three and half hour long grilling. Earlier, he was questioned by the CBI twice on November 11, first in the afternoon and then again in the night.

The builder, along with Vineet Lalani, his partner, is said to have taken huge amounts of money from the AT group for their real estate and construction business, CBI sources said.