Odisha Chit Fund Scam : CBI raids on Offices of Micro Finance Limited


31 Jan, Bhubaneswar (Odibizinfo)

The CBI Saturday conducted simultaneous raids on the offices of chit fund company Micro Finance Limited in connection with the mega chit fund scam in Odisha .
According to CBI sources , the Special Investigation Team (SIT) of the Central investigating agency began the raid at 14 places including Bhubaneshwar, Cuttack and Brahmapur where the chit fund company has its offices.
This is the second time that the CBI has carried out raids on places associated with Micro Finance Ltd. s.

The CBI officials raided the house of Managing Director of the company, Durga Prasad Misra, at Bhubaneswar. Simultaneous raids were also conducted at its offices in Sahidnagar and Rasulgarh industrial estate at Bhubaneswa r.
“In Odisha chit fund scam, the CBI conducted searches at 14 places of Microfinance Ltd offices and residences of former MD Durga Prasad Mishra, director Ashok Patnaik and other directors of the company,” said a spokesperson of CBI in New Delhi.
Raids were also conducted on the house of Ajay Swain, former personal assistant of commissioner-cum-secretary of Panchayati Raj department, the residence of Suratha Das, one of the directors of Micro Finance Ltd, and the residence of retired Indian Administrative Officer Jugal Kishore Satpathy in Bhubaneswar.

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