Cuttack Court Awards 5-Yr Jail Term To Chit Fund Firm Head

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Cuttack: A court in Cuttack district on Thursday sentenced the director of a money circulation company to five years’ imprisonment and two agents to four years’ jail term for duping people to the tune of Rs 3.5 lakh.

According to the court, the chit fund court awarded the five-year jail term to Sai Samruddhi Realcon India Ltd’s director Sandeep Das.

Das was also been fined Rs one lakh while the company was fined Rs two lakh and the Jail term to be extended for 1 year if Das fails to pay a penalty amount, the court said.

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