Supreme Court allows bail to MP Ramachandra Hansdah

  • | Tuesday | 3rd July, 2018

The bail has come as a major relief for the Mayurbhanj MP who moved several petitions at different courts seeking bail in last four years.“After a long legal battle of four years, finally my client has been granted bail by the Supreme Court. Following the direction, Hansdah had moved Supreme Court seeking bail.Hansdah was the founder director of the Nava Diganta Capital Services, one of the 44 chit fund companies being probed by the CBI by the order of the Supreme Court. CUTTACK: Supreme Court on Tuesday granted bail to MP Ramchandra Hansdah, who has been in judicial custody after being arrested by Central Bureau of Investigation (CBI) in November 2014 for his alleged complicity in the Nava Diganta Capital Services Limited(NDCSL) chit fund scam.The apex court has granted bail to Hansdah without any condition. Hansdah has been lodged in Jharpada jail in Bhubaneswar since 2014.Notably, Hansdah was denied bail by Orissa High Court thrice in last four years. The MP’s alleged involvement in the chit fund scam had created much furore in the state.

CUTTACK: Supreme Court on Tuesday granted bail to MP Ramchandra Hansdah, who has been in judicial custody after being arrested by Central Bureau of Investigation (CBI) in November 2014 for his alleged complicity in the Nava Diganta Capital Services Limited(NDCSL) chit fund scam.The apex court has granted bail to Hansdah without any condition. The bail has come as a major relief for the Mayurbhanj MP who moved several petitions at different courts seeking bail in last four years.“After a long legal battle of four years, finally my client has been granted bail by the Supreme Court. The apex court has fixed no conditions while allowing the bail. The trial court will execute the bail order,” said Handah’s counsel, A Mohanty. Hansdah has been lodged in Jharpada jail in Bhubaneswar since 2014.Notably, Hansdah was denied bail by Orissa High Court thrice in last four years. However, in December last year, the high court had directed the concerned trial court to conclude the hearing of his case after examining the witnesses in the case. Following the direction, Hansdah had moved Supreme Court seeking bail.Hansdah was the founder director of the Nava Diganta Capital Services, one of the 44 chit fund companies being probed by the CBI by the order of the Supreme Court. The company had allegedly raised Rs 15 crore from people promising attractive returns. However, the company did not return money to the investors following which the duped depositors had complained to Crime branch and subsequently the company’s assets were seized by the Economic Offences Wing (EOW).Later, the CBI took investigation of the case and had raided on Hansdah’s house in July 2014 and had seized cash worth Rs 28 lakh and some crucial documents. Subsequently, basing on the evidences CBI had arrested the Hansdah on November 4, 2014.Hansdah, who was elected MP from Mayurbhanj on a BJD ticket was suspended by the party soon after his arrest. The MP’s alleged involvement in the chit fund scam had created much furore in the state.

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