BHUBANESWAR:The Central Bureau of Investigation (CBI) on Thursday submitted preliminary chargesheet against the Micro Finance Limited (MFL) as part of the multi-hundred crore chit fund scam.
Five top executives of MFL, including Managing Director Durga Prasad Mishra, and six firms have been named in the chargesheet which was submitted by CBI investigating officer M K Saha and senior counsel Kali Charan Mishra before the Court of Special CJM (CBI) here.
Besides Mishra, the CBI has slapped charges against Ashok Patnaik, Baikuntha Patnaik, Upendra Mishra and Kali Mishra in the 100-page chargesheet. They have been charged under Sections 120(B), 406, 409, 420, 471 of IPC and Sections 4/5/6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978.
In the chargesheet, the probe agency contended that the MFL Group floated six companies, including Micro Finance Ltd, Micro Leasing and Funding, Micro Hotels, Micro Media, Micro Constructions and Micro Hospitals. Through these group companies, which also have been named in the chargesheet, the company mobilised over Rs 400 crore from investors of the State and outside.
The Micro Finance Limited had invested heavily in real estates, hospitality and health care sector. It also runs a private TV channel. The chargesheet also contains the witnesses of over 70 persons. Over 47 pages of the document is devoted to the modus operandi of the irregularities.
The CBI sources said this would only be a preliminary chargesheet and supplementaries would be filed as and when necessary, since investigation continues to remain open in the case.
Of the five top executives who have been chargesheeted, Durga Prasad, Ashok and Baikuntha Nath have been arrested in the past and are in judicial custody. Upendra, who heads Micro Leasing and Funding, and Kali, a Director, have not been held.
This is the third chargesheet filed by the probe agency in the chit fund scam. In December last, it had submitted charges against Green India Limited and Artha Tatwa Group.