Home HEADLINES Odisha chit fund scam: CBI gets ex Microfinance MD on 6-day remand

Odisha chit fund scam: CBI gets ex Microfinance MD on 6-day remand

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Odisha Sun Times Bureau
Bhubaneswar, Dec 15:

The special CBI court today allowed the CBI to take Durga Prasad Mishra, former Managing Director (MD) of Microfinance Limited who was arrested by the CBI in connection with the mega chit fund scam in Odisha yesterday, on a six-day remand.

Former Microfinance MD Durga Prasad Mishra answering questions from the media in Bhubaneswar after his arrest on Sunday (Pic: Biswaranjan Mishra)
Former Microfinance MD Durga Prasad Mishra answering questions from the media in Bhubaneswar after his arrest on Sunday
(Pic: Biswaranjan Mishra)

Mishra will be produced in the court next on December 20.

Senior CBI counsel Kali Charan Mishra had moved a petition seeking a seven-day remand for Mishra in the court here this afternoon.

On the other hand, Msihra’s counsel has moved a bail petition on behalf of his client on health grounds. But it was not taken up for hearing today.

Mishra was brought to Bhubaneswar late last evening after being arrested somewhere in Balasore earlier in the day and taken to the Capital Hospital here for a medical check up, a mandatory requirement before an accused is produced in the court.

He was taken to the Capital Hospital again today.

In a brief interaction with the media at the hospital, Mishra said Microfinance was not a chit fund company. “We operated as per RBI guidelines,” he said.

“We have been in the business for 30 years now. How can things change overnight? he asked alleging that there was a conspiracy against the company.

Asked who had conspired against the company, Mishra said; “You know it very well.”

Asked why he had gone into hiding since March if he was innocent, the former Microfinance MD denied that he had absconded.

CBI had raided the residence of Durga Prasad Mishra at Aryabhumi Apartments in Patia on December 8 and had seized  some documents. Mishra, however, was not present in the house at the time.

Meanwhile, Mishra’s son Kali Prasad appeared before the CBI today. He was grilled for nearly an hour by CBI sleuths.

Kali Prasad refused to take questions from the media after coming out of the CBI office. “Our lawyer will tell you,” he said.