Odisha: Special Court Orders 5 years Sentence to Chit Fund Company MD

Bhubaneswar: In the first conviction of ongoing chit funds cases the Special Chit Fund court in Cuttack on Tuesday sentenced the Managing Director of Shirdi Sai Real Estate Private Limited chit fund company to 5 years jail term.

Prakash Chandra Panda, MD of the chit fund firm along with 5 years of jail and ordered him to pay Rs 3 lakh as fine.

Panda was arrested by Economic Affairs Wing (EOW) for duping investors money and case was registered and finally convicted by the Special Court.

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