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.

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