Bhubaneshwar: The Economic Offenses Wing (EOW) of the Odisha Crime Branch has arrested the Managing Director of Diya Diary Agro Processor Pvt Limited in connection with a case of cheating amounting to Rs 100 crore.
The accused, identified as Amrita Kindo, was arrested under sections 406,420, 467,468,471 and 120-B of the Indian Penal Code.
The matter came to light after Annapurna Finance Pvt Limited, located in Khandagiri, filed a complaint in this regard.
Preliminary investigation revealed that the Complainant and Defendant companies are registered with RBI as NBFC-MFI.
In the year 2020, Deepak Kindo’s company approached the finance company for a loan of Rs 5 crore with the aim of effectively carrying out financial activities by providing loans to different Self Help Groups (SHGs) and groups joint responsibility.
“However, after availing the loan/financing, the accused company violated the terms and conditions of the financing and embezzled the amount without making a refund. It was also established that the accused company provided false documents to avail the loan EOW said in a statement.
During the investigation, it was also established that the company of the accused (Deepak Kindo), Sambandh Finserve Pvt. Ltd had also raised funds of over Rs 100 crore from different investors/lenders like DCB Bank, SIDBI (Small Industries Development Bank of India), BOPA PTE Ltd. (a Singapore-based company) and DIA Vikash Capital Pvt. ltd. and diverted them by diverting the amounts to their sister companies during the period 2015-2020.
It was also established that Amrita, wife of Deepak Kindo and director of Diya Diary Agro Processor Pvt. Ltd, is a sister company of Sambandh Finserve Pvt. ltd.