Assets of Katloon to Be Attached

Published: 13th April 2016 06:35 AM  |   Last Updated: 13th April 2016 06:35 AM   |  A+A-

BHUBANESWAR: The Economic Offences Wing (EOW) on Tuesday proposed interim attachment of assets of Katloon Management and Financial Services Pvt Ltd, a chit fund company which duped depositors to the tune of several crores of rupees.

The 37.5 acre land in Ganjam and a car belonging to the firm have been put on the ad interim attachment proposal of the company. Katloon primarily operated in Ganjam district where it lured depositors with high returns on investment. After mobilising deposits, it made a vanishing act. Despite repeated attempts, the depositors failed to get back their money and a case was registered. The firm has its office in Unit IV area of the Capital.

The EOW sources said a director of the company Asim Kumar Nayak was arrested last year in this connection.

Most of the land that the firm possessed are located in Buguda and Bhanjanagar areas of Ganjam.

Stay up to date on all the latest Odisha news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp