The Economic Offence Wing of Odisha police arrested Amrita Kindo, Managing Director of Diya Diary Agro Processor Private Limited, with regard to financial frauds of ₹100 crore.
The EOW arrested Ms. Kindo based on a complaint from Annapurna Finance Private Limited (AFPL), which accused her husband Deepak Kindo of using forged documents to obtain a loan. According to the complaint, Mr Kindo, managing director of Sambandh Finserve Private Limited (SFPL) had fraudulently availed loan to the tune of ₹5 crore from AFPL.
In 2020, the SFPL had approached AFPL for a loan of ₹5 crore for lending to different self help groups and Joint Liability Groups.
“After availing the loan, the accused company violated the terms and condition of finance and misappropriated the amount without making repayment. It has also been ascertained the accused company had furnished forged documents to avail the loan,” the EOW said.
During the course of investigation, it was found that from 2015-2020, SFPL, represented by Mr Kindo had raised similar loans of more than ₹100 crore from different investors and lenders like DCB Bank, SIDBI (Small Industries Development Bank of India), BOPA PTE Limited (a Singapore based Company) and DIA Vikash Capital Primate Limited and misappropriated the same by diverting the amounts to its sister concerns.
From 2017 to 2020, SFPL had diverted ₹22.72 crore the accounts of Diya Diary Agro Processor Private Limited and misappropriated, said the EOW.
