Former AT Group director Jagabandhu Panda gets bail in chit fund case

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Cuttack: The Orissa High Court today granted bail to former director of Artha Tatwa (AT) Group, Jagabandhu Panda in chit fund case.

However, the court has put some conditions for the bail. He was granted bail on condition of Rs 10 lakh bank deposit, two sureties of Rs 1 lakh each.

The court also asked the accused to deposit his passport and cautioned not to get indulged in similar kind of crime.

Jagabandhu had played a major role chit fund scam in the State. He allegedly misappropriated around Rs 100 crore from AT Group and floated another venture Swastik India along with some former colleagues in 2011.

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