Bhubaneswar: The Economic Offences Wing, Bhubaneswar has arrested the Managing Director of Sambandh Finserve Pvt. Ltd from Luludiha under Talsera police limits in Sundargarh in the matter of cheating to the tune of more than 100 crores. The Managing Director has been identified as Dipak Kindo.
The case has been registered on the basis of a written complainant filed on behalf of Annapurna Finance Pvt. Ltd., Khandagiri against Dipak Kindo, MD of Sambandh Finserve Pvt. Ltd., Chandaka Industrial Estate, Chandrasekharpur, Bhubaneswar.
It has been alleged that he had fraudulently availed a 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.
During the investigation, it has been revealed that both the complainant and accused Companies are registered with RBI as NBFC-MFI. During the year-2020, Sambandh Finserve approached the Annapurna Finance 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.
However, after availing of the loan/ finance, the accused company 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.
It has also been ascertained that Sambandh Finserve represented through Dipak Kindo, during the period from 2015 to 2020, in a similar manner had raised funds of more than Rs. 109 crores 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. etc. on the basis of forged documents and misappropriated the same by diverting the amounts to their personal accounts and accounts of sister concerns companies including Diya Dairy Agro Processor Pvt. Ltd., the Director of which is Amrita Kindo, wife of Dipak Kindo.
As many as 61 bank accounts relating to Sambandh Finserve Pvt. Ltd., its MD Deepak Kindo & others maintained with different nationalized & private banks have been identified and the available balance of more than Rs. 17.10 crores have been frozen.
Earlier, accused Amrita Kindo, wife of Deepak was arrested in this case, who had availed more than Rs. 22 crores out of the cheating money. She is still in judicial custody. Deepak Kindo was absconding, evading police arrest since registration of the case, for which Look Out Circular was earlier issued in his name.
Further investigation into the fraud is underway.