State

Khirod Mallick's Bail Plea Rejected, sent to Judicial Custody

Berhampur, Nov 11: In a setback to chief of Bharat Integrated Social Welfare Agency (BISWA) Khirod Mallick, who was arrested last moth in connection with the massive financial fraud, was sent to judicial custody after the Additional Sessions Judge (II) court rejected his bail plea on Monday.

Mallick is the brother of former minister and senior BJD MLA Pramila Mallick. He was produced in the court after his 6-day remand ended on Monday. He was sent to Berhampur circle jail after his bail application was rejected.

Mallick, the head of BISWA, an NGO, was arrested by the the economic offence wing (EOW) of the Odisha police crime branch on Oct 27 from Sambalpur for illegally raising Rs 10 crore from public in a chit fund like operation. He had allegedly cheated the banks by not repaying the loans . The crime branch said that a large amount was given as loans to several self-help groups (SHGs) which have defaulted on repayment.

He also failed to give the details of the amount of loans and financial assistance given to the SHGs, He had allegedly taken Rs 231 crore as loans from several nationalised and overseas banks. However, the crime branch only found Rs 3 lakh in his account during the investigation. 

Besides, the NGO had also invested huge amount of money collected from the depositors through equity share but did not return to them till date.

The Crime Branch is also investigating into the political link of Mallick to see whether he had used government machinery in the massive financial fraud.

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