Raipur Police on Monday claimed to have arrested the director of a chit fund company in connection with a multi- crore forgery. “Police have arrested the director of Sai Prakash Property Development Limited Mrigendra Pandey (55), a native of Madhya Pradesh, for allegedly duping a large number of investors on the pretext of profitable return. Offences were registered against the directors of Sai Prakash Property Development Limited in Bijapur, Raigarh, Rajnandgaon, Durg, Bemetara, Janjgir-Champa, Dhamtari and other states in the country,” said a senior police officer. Based on the specific input about the whereabouts of Pandey, a police team from Azad Chowk was dispatched to Madhya Pradesh and the accused was arrested, added the officer.

 

The officer further informed that the chit fund company had opened an office in Raipur and collected around Rs 2 crore from investors on the promise of profitable return. After the amount was collected the directors fled the city after shutting the company’s office following which offences were registered with Azad Chowk police station in 2015. All the directors of this chit fund company belonged from a single family, added the officer. In connection with the case, police here have already arrested accused Pushpendra Singh Baghel, who is currently languishing in Bharatpur Jail of Rajasthan while Ranvijay Singh Baghel is in Bhubaneswar Jail, informed the officer.

 

It may be recalled that Raipur Collector Saurabh Kumar has recently issued notices to two chit fund companies and its directors regarding attachment of the properties. The Collector has issued the notice regarding attachment of properties (land) belonging to Sai Prakash Property Development Limited Company under Prize Chits and Money Circulation Schemes (Banning) Act and section 7 of Chhattisgarh Protection of Depositors Interest Act-2005.