Odisha News Insight

Chit Fund Scam: Adarsh Group Director Saroj Patra arrested in Cuttack

ONI Bureau:  The Central Bureau of Investigation (CBI) on Wednesday arrested the director of Adarsh Group of Companies Saroj Patra in connection with multi-crore chit fund scam in Odisha.

Saroj Patra was arrested from Nemalo area in Cuttack on the charges of duping investors to the tune of Rs 12 crore.

Earlier last year, the Special CJM, Bhubaneswar has sentenced Bijay Kumar Rout, then MD of Adarsh Group to undergo four years Rigorous Imprisonment. The Court also directed the farm to pay a compensation amount of Rs. 12 crore which shall be paid to the unpaid depositors after realization as per procedure laid down under law.

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