The Economic Offences Wing (EOW) of the State Crime Branch on Wednesday arrested Dilip Jain, a director of chit fund company Inter Ocean Videsh Limited, on the charge of duping investors in Odisha of Rs 2 crore.
Jain, a resident of Bikaner in Rajasthan, was arrested from Bareli in Uttar Pradesh and booked under Sections 467,468,471,420,406, 120-B of the IPC, Sections 4,5, 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978, along with Section 6 of the OPID Act, 2011. Earlier, EOW had registered an instant case based on the complaint filed by one Laxmi Narayan Mohapatra of Talcher. Mohapatra alleged that Jain was involved in unauthorised collection of public deposits. He, as one of the Directors of Inter Occean Videsh Limited and its sister concerns, also did not pay any maturity amount to the depositors. The Inter Occean Videsh Ltd is registered with ROC, Cuttack having its registered office at Bhubaneswar and branch offices in other parts of the State.
During 2010-13, the directors of Inter Occean Videsh Ltd and its sister concerns, Alpine Fin Corp Limited, Inter Occean Impex Private Limited and Inter Occean Retail India Limited unauthorisedly collected public deposits, to the tune of Rs.2 crore approximately, by luring the investors with their attractive advertisements to invest money in their different deposit schemes which would provide them high rate of interest.Later, they shut down their offices and absconded during January 2013 without repaying the monthly returns as well as the principal invested amount of the investors. Thereby, they cheated the investors and misappropriated their invested amount. Earlier in this case, two directors, Sunita Samal and Manoranjan Ray, had been arrested and produced before court. The arrested accused, Dillip Kumar Jain, was another director of the above companies.
He was absconding since registration of the case and was frequently changing locations in a bid to evade arrest. “On receipt of credible information regarding availability of accused in New Delhi, a team of EOW proceeded to New Delhi on July 21,2021.
The accused frequently moved to Bikaner, from Bikaner to Delhi and from Delhi to Bareli via Ghaziabad. He was nabbed on Wednesday at Bareli with the help of local police,” the EOW said.