Odisha

Court orders confiscation of Ponzi firm Land India’s assets

By
OB Bureau

Cuttack: The Special Chit Fund Court here on Tuesday ordered confiscation of properties worth Rs 2 crore of Ponzi firm Land India.
According to the court’s directive, a total 7.91 acre of land worth Rs 1, 85 crore belonging to the company and bank deposits to the tune of Rs 8, 12, 258 will be confiscated. The value of the estimated properties, both movable and immovable, will the be equitably distributed among the duped investors.
Several investors duped by the chit fund firm had earlier lodged complaints against the company’s managing director Braja Sundar Mishra.

OB Bureau

Recent Posts

Thalassemia & Sickle Cell Patients Stage Dharna For Blood Transfusion Centre At MKCG Hospital In Odisha’s Berhampur

Berhampur: Hundreds of thalassemia and sickle cell patients on Tuesday staged a demonstration demanding a…

November 26, 2024

Samantha Ruth Prabhu Was Labelled ‘Second Hand’, ‘Used’ After Divorce With Naga Chaitanya

Mumbai: Actress Samantha Ruth Prabhu and her ex-husband actor Naga Chaitanya have moved on after…

November 26, 2024

Amid Divorce Rumours, Aishwarya Asks Women To Never Compromise On Their Worth [Watch]

Mumbai: Amidst rumours of their divorce, Bollywood queen Aishwarya Rai asked women to stand up…

November 26, 2024

Prime Minister Modi To Participate In Roadshow On Arrival In Bhubaneswar

Bhubaneswar: Prime Minister Narendra Modi will participate in a roadshow on his arrival at Bhubaneswar…

November 26, 2024

How Custody Battle With Elon Musk Left His Ex-Girlfriend Grimes ‘Bankrupt’

New York: Elon Musk, father of 12 children with different partners, has led an eventful…

November 26, 2024

Vigilance Apprehends College Principal While Taking Rs 1 Lakh Bribe In Odisha’s Nayagarh

Bhubaneswar: Vigilance has apprehended a college principal while taking a bribe of Rs 1 lakh…

November 26, 2024

FIR Against ‘Pushpa 2’ Actor Shri Tej For Cheating & Exploiting Woman

Mumbai: Ahead of the release of Allu Arjun's highly-anticipated ‘Pushpa: The Rule’, one of the…

November 26, 2024

Odisha Govt Rejects IAS Officer Sujata Karthikeyan’s Leave Extension Application

Bhubaneswar: The Odisha government has rejected the application of IAS officer Sujata R Karthikeyan for…

November 26, 2024