Bhubaneswar: The absconding Managing Director of Sambandh Finserve Pvt Ltd, Dipak Kindo, was nabbed by the Economic Offences Wing (EOW), Bhubaneswar, from Luludiha area in Odisha’s Sundargarh district on Friday while he was trying to flee the state.
A lookout notice was issued against him on February 3 in connection with a Rs 100 crore fraud.
His wife and director of Diya Dairy Agro Processor Pvt Ltd, Amrita Kindo, was earlier arrested for her alleged complicity in the case. She had availed more than Rs 22 crore of the cheating money and is now in judicial custody. The EOW had also identified 47 accounts maintained by the company and its officials with different nationalised and private banks with Rs 17,10,66,862 and froze them.
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According to the EOW release, Dipak was arrested on the basis of a complaint filed on behalf of Annapurna Finance Pvt. Ltd., Khandagiri. The complainant alleged that Dipak had fraudulently availed a loan to the tune of Rs 5 crore from Annapurna Finance Pvt Ltd on the basis of forged documents and misappropriated the same without refunding the amount to the company.
In 2020, Dipak’s company had availed the loan for carrying out financial activities effectively by giving loans to different SHG and Joint Liability Groups. “The accused’s company, however, violated the terms and conditions of finance and misappropriated the amount without making a repayment. It has also been ascertained that the accused company had furnished forged documents to avail the loan,” the release said.
Also Read: MD Of Diya Dairy Amrita Kindo Arrested From Bhubaneswar For Rs 100 Cr Loan Fraud
Subsequently from 2015 to 2020, Dipak’s company had raised funds of more than Rs 109 crore from different investors/ lenders like DCB Bank, SIDBI (Small Industries Development Bank of India), BOPA PTE Ltd. (a Singapore based Company) and DIA Vikash Capital Pvt. Ltd. on the basis of forged documents.
Dipak had allegedly misappropriated the money by diverting the amounts to their personal accounts and accounts of sister concerns companies, including Diya Dairy Agro Processor Pvt Ltd.
He is now being forwarded to SDJM court in Bhubaneswar, the release added.
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