Odisha Sun Times Bureau
Bhubaneswar, Sep 3:
In a major achievement, a team of Economic Offences Wing (EOW) officials arrested one of the Directors of Deseed Benefit Fund Ltd from neighbouring Chhattisgarh for his alleged complicity in collecting public money in Odisha.
The accused identified as Asish Tiwari, a resident of Saldha under Bamtera police limits in Chhattisgarh, was arrested yesterday. He is one of the Directors of M/S- Deseed Benefit Fund Ltd.
After his arrest, he was brought here and forwarded to SDJM court today
Following allegations of defrauding investors of lakhs of rupees, EOW had registered a cast in April this year and began an investigation into the matter.
“Investigation of the case revealed that in contravention to the provision of rule 10(4) of Nidhi Rule, 2014 M/s Deseed Benefit Fund Limited opened its branch at plot No-128, Samantrapur near Kapila Prasad Gate under Old Town area in Odisha capital since August last year. The company collected public deposits under different schemes such as Daily Deposit, Recurring Deposit and Fixed Deposit alluring the depositors with a lucrative rate of interest. The Directors misrepresented the said company as Smart Quasi Bank and approved by RBI as Nidhi Company though the company has no authority for business activities in Odisha. This company collected public deposit amounting to Rs. 54 lakhs by issuing certificates, bond papers etc. This Company has not been authorised by RBI to collect public deposits in Odisha,” an EOW release said.
Earlier, one of the Managing Director of the company, Sanjaya Badgayan Dhar, was arrested on April 30 this year and forwarded to court.
A case was registered in April this year under sections 120-B, 420, 406, 467, 468 and 471 of IPC.