Odisha: MD of chit fund firm in CBI remand

A SPECIAL CBI court in Bhubaneswar on Sunday allowed the CBI to take the managing director of Odisha-based chit fund company Green Ray International Ltd Mir Shahiruddin on six-day remand.

Shahiruddin, who was arrested by the CBI from Kolkata airport two days ago, was brought here by the CBI. A resident of Balasore district, Shahiruddin was hiding with his family in Nigeria. He had entered India on Bangladesh passport by impersonating as Ahmed Hussain when he was arrested.

Shahiruddin’s company has been accused of cheating nearly Rs 2,000 crore from investors of Odisha and 13 other states. Thirteen cases were lodged against the company authorities under various sections of IPC and Prize Chits and Money Circulation Schemes (Banning) Act 1978 in 2013.