Bhubaneswar: Wings of Economic Violations (EOW) The branch of the crime of the state here on Monday arrested a businessman to be suspected of deceiving some investors, including one from Singapore, from Rs 100 Crore.
The defendant was identified by Detuths as Amrita Kindo, Director of Dairy Dairy Agro Private Limited.
Amrita and her husband, Deepak Kindo, who is the former MD Sambandh Finserve Pvt Ltd, a city-based non-banking finance company (NBFC), allegedly embezzled Rs 100 Crore between 2015 and 2020, said EOW.
Deepak has not been arrested.
In December last year, EOW has registered a cheating case against NBFC Deepak for suspected deceiving RS 5 Crore from Annapurna Finance Pvt Ltd, other NBFC.
Deepak has used loans from Annapurna Finance in 2020, but allegedly not paying money.
Eop said Deepak was alleged to have submitted a false document and took advantage of RS 5 Crore from Annapurna Finance with the pretext of providing loans to the independent group and shared accountability.
But he allegedly violated the terms and conditions of the loan agreement and misused money.
“During the probe, we learned that Diaya Dairy Agro Pvt Ltd was a concern of brothers from Sambandh Finserve.
During 2015-2020, Sambandh Finserve allegedly utilizing loans with RS 100 Crore songs from many investors and money lenders.
One of the lenders is BOPA PTE LTD , a company based in Singapore, “said an EOW official.
The probe agent said around Rs 22.72 Crore from the loan amount allegedly transferred illegally to Dairy Diyah between 2017 and 2020.
Amrita could not provide a satisfactory explanation of the transfer of the loan amount to the company, he added.