OPID COURT CUTTACK CONFIRMS & ORDERS SALE OF ATTACHED PROPERTIES
Bureau,Odishabarta
EOW PS Bhubaneswar case No. 01, dt-3.01.2015, U/S- 467/468/471/420/406/120 (B) IPC r/w Sec- 4, 5 & 6 of Prize Chits & Money Circulation Schemes (Banning) Act, 1978 & Section 6 of Odisha Protection of Interest of Depositors (In Financial Establishments) Act, 2011.
Bhubaneswar:The above noted case was registered on the written report of Nirmal Kumar Jesti against Chhotrai Majhi, Subhranshu Singh, Bhagaban Panda and others who were the Board of Directors, its promoters/agent of the Company M/S Shree Bhumi Group of Companies for entering in to a criminal conspiracy and cheating to general public by way of alluring them for deposit in various schemes of Shreebhumi Group and promising to give high returns. Subsequently, the accused persons failed to refund back the principal as well as interest to the depositors.
During course of investigation, immovable properties measuring more than 24 Acres( Valued Rs 37.51 lakhs in 2011) of land acquired in the name of above alleged company represented by the accused Director Chhotrai Majhi and in the name of their driver Pradipta Kumar Naik from and out of the deposits collected by the Directors was attached basing on the proposal submitted by EOW to Government and in this regard Ad-Interim Attachment order was earlier issued by Finance Deptt, Govt of Odisha vide Order No 31116 dtd 27.09.2018.
Hon’ble Designated Court under the OPID Act, Cuttack vide order dtd 20.02.2023 has made absolute ( confirmed) the above mentioned immovable properties measuring Ac.24.0487 Dec. of land and has directed the competent Authority to sell the immovable properties under attachment in public auction and on realisation of the amount the same shall be distributed among the depositors accordingly.
Earlier, chargesheeted accused Subhranshu Singh, MD was convicted by Designated Court under OPID Act, Cuttack U/s 467/468/471/420/406/120 (B) IPC & Sec. 6 of Odisha Protection of Interest of Depositors (In Financial Establishments) Act, 2011 and sentenced to undergo RI for 7 years with fine of Rs. 1 lakh in default 18 months RI U/s 6 OPID Act along with other IPC offences.
