BHUBANESWAR: The Economic Offences Wing (EOW) of Odisha Crime Branch on Saturday arrested the former secretary of Adarsh Cooperative Society Limited, Sarat Kumar Senapati, in Rourkela for allegedly cheating a former employee of Steel Authority of India Limited (SAIL).
According to EOW sources, the former SAIL employee, Byomkesh Panda of Sambalpur, had approached the Orissa High Court alleging that Senapati and other members of Adarsh Cooperative Society, had duped him and several other retired persons by assuring high returns on their investments.
The complainant alleged that he had invested Rs 20 lakh in the society’s fixed deposit scheme in 2003 with an assurance of returns with 15 per cent interest annually. But the firm neither executed the deal nor refunded his money. Subsequently, on the direction of the High Court, the EOW registered a case in this regard under Sections 420 and 406 of IPC along with Section 6 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act in May, 2018.
An EOW officer said Senapati was arrested and produced before a court in Sambalpur on Saturday.
President of the Adarsh Society Bijaya Kumar Padhi was arrested by the EOW in August, 2018 in connection with the case.
The firm had collected around Rs 12 crore from several depositors, majority of whom were SAIL and Government employees, by using forged document.