OPID Court directs to confiscate properties of Odisha Home Pvt Ltd chit fund company

Bhubaneswar: The OPID Court in Cuttack has directed to confiscate properties of Odisha Home Private Limited chit fund company on Friday.

Reportedly, the court has confiscated 18 acres of 30 decimal property. A bank deposit of Rs 8,87,000 has also been confiscated.

The chit fund company has been trying to deceive people into offering affordable apartments.

It has been learnt that the private chit fund company is situated in Bhubaneswar. A total of Rs 7.54 crore has been allegedly defrauded.

Public prosecutor Subrata Mohanty was handling the case on behalf of the government.

It is to be noted that earlier, the assets of 18 chit fund companies have been confiscated.