Odisha: EOW Arrests Chit Fund Accused From AP | Odisha News
Bhubaneswar: The Economic Offences Wing (EOW) has arrested Balaraju Mallikarjun Raju (54), Director of M/s Sastra Enterprises Ltd and M/s Earnmarx Marketing Pvt Ltd from Tirupati in Andhra Pradesh on Thursday.
Raju was arrested by the EOW in connection with a chit fund case of 2011 under sections 467/468/471/420/406/120B IPC read with section 4/5/6 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act,2011, said a press note issued by the EOW today.
The EOW produced Raju in the Court of the Additional Junior Civil Judge, Tirupati before getting him on transit remand. He will be produced in the OPID Court, Balasore, the note added.
Raju was arrested in connection with a case registered on the basis of a written complaint by one Khirod Chandra Barik of Baripada Town.
Barik had alleged in the complaint that Raju had unauthorizedly collected deposits under various schemes and the officials and directors of M/s Sastra Enterprises Ltd and M/s Earnmarx Marketing Pvt Ltd had not paid maturity amount.
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EOW Arrests Chit Fund Accused From AP
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