Follow Us:

Odisha EOW arrested fugitive offender for Rs 100 crore fraud

Investigation of the case revealed that during the period from 2015-2020, the accused company- Sambandh Finserve Pvt. Ltd.

Statesman News Service | BHUBANESWAR |

The Economic Offences Wing (EOW) of Odisha police on Friday arrested Deepak Kindo, accused of perpetrating Rs 100 crore fraud by availing loan on the basis of forged documents.

It may be recalled here that the Bureau of Immigration (BOI) had issued a look out circular against fugitive economic offender earlier last month.

“The above referred case has been registered on the basis of a written complainant filed on behalf of Annapurna Finance Private Limited, Khandagiri on the allegation that accused Dipak Kindo, MD of Sambandh Finserve Pvt. Ltd., Chandaka Industrial Estate, Chandrasekharpur, Bhubaneswar had fraudulently availed loan to the tune of Rs. 5 crores from Annapurna Finance Pvt. Ltd. on the basis of forged documents and misappropriated the same without refunding the amount to Annapurna Finance Pvt. Ltd”, the EOW said in a statement.

Kindo, Managing Director of Sambandh Finserve Private Limited was arrested from Luludiha village under Talsera police station jurisdiction of Sundargarh district. He was later today remanded to judicial custody.

Investigation of the case revealed that both the complainant and accused Companies are registered with RBI as NBFC-MFI. One Mr. Dipak Kindo is the Managing Director of Sambandh Finserve Pvt. Ltd. During the year-2020, the accused company approached the complainant company for a loan of Rs. 5 crores for the purpose of carrying on financial activities effectively by giving loans to different SHG and Joint Liability Groups.

Investigation of the case revealed that during the period from 2015-2020, the accused company- Sambandh Finserve Pvt. Ltd. represented though its Managing Director Deepak Kindo, on the basis of forged documents had fraudulently raised funds of more than Rs. 100 crores from different investors/ lenders including Annapurna Finance Pvt. Ltd. (the complainant company), DCB Bank, SIDBI (Small Industries Development Bank of India), BOPA PTE Ltd. (a Singapore based Company) and DIA Vikash Capital Pvt. Ltd. etc. for the purpose of carrying on financial activities”, the statement said, adding that Deepak’s spouse Amrita Kindo was earlier arrested in the fraud case.