Bhubaneswar: The Economic Offence Wing (EOW) of crime Branch on Tuesday brought the Directors of M/s Sagarika Realtor Projects India Ltd and Sagarika Mutual Benefits Fund Limited on Transit remand to Orissa after their arrest at Midnapur in West Bengal on Monday in connection with chit fund scam.
The two Directors identified as d Sibu Das and Satyen Manik would be produced in a court on Wednesday.
As per officials, the company had collected more than Rs 4 crore from depositors of Cuttack, Jagatsingpur, Puri, Dhenkanal and other parts of the state between 2009 to 2013. After collecting the amount, the company closed its offices and cheated investors by not refunding the amount.
The company was having its main office at Bolpura in Birbhum district of West Bengal and the branch office at Cuttack.
A case (21/16) was registered against the directors of the company on December 28, 2016.