Ex Microfinance Ltd MD Durga Mishra in CBI Custody

Former Microfinance MD Durga Prasad Mishra has been remanded to six-day CBI remand after he was produced in the court yesterday. Durga Mishra was arrested on December 14 by the CBI after being on the run since March 2014. He will be produced in the court on December 20.

While talking to the media, Durga Mishra dismissed allegations of fraud and said his company was doing clean business for the last 30 years without any taint and that some vested interests were behind the conspiracy to malign him.  “We have been in the business for 30 years now. How can things change overnight,” he asked while hinting at the big conspiracy.

Durga Prasad Mishra is also the promoter of Ayush Hospital and MBC TV. The CBI had raided his house in Bhubaneswar last week, but failed to arrest him. He is accused of duping investors of Rs 500 crore. Microfinance Ltd. had 420 branches across Odisha.