Home HEADLINES Odisha chit fund scam: CBI takes builder Sagar Ray on 12-day remand

Odisha chit fund scam: CBI takes builder Sagar Ray on 12-day remand

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Reported by Santosh Jagdev
Bhubanswar, Nov 15:

The special CBI court here today granted the central investigating agency to take Sagar Ray, the city builder arrested yesterday in connection with the Odisha chit fund scam, on a 12-day remand.

File Pic of Sagar Ray
File Pic of Sagar Ray

Ray, a director in Orisons Properrties Limited, a city based real estate firm arrested by the CBI for his dubious deals with the Artha Tatwa (AT) group, will be produced in the court next on Novemver 26.

The CBI had asked for a 14-day remand for Sagar Ray.

The bail petition moved by Ray’s lawyer Sitanshu Mohan Dwivedy would be taken up for hearing when he is produced in the court on November 26.

Ray, under CBI scanner for his alleged involvement in lnad deals of the Artha Tatwa (AT) Group and construction of apartments and duplex houses in the city, had appeared before CBI yesterday and was arrested after a three and half hour long grilling. Earlier, he had been 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, sources said.