Chit Fund Scam: Bail Plea of Subarna Naik Rejected

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Bhubaneswar, Dec 16: The Khurda district and sessions judge court on Tuesday rejected the bail plea of former BJD MLA Subarna Naik. He was arrested by the CBI in connection with the chit fund scam.

Subarna Naik was one of the directors of Nabadiganta Capital Services, the chit fund firm duped the depositors in Odisha. He was arrested on Nov 4.

The court today deferred the bail plea hearing of Shreekrushna Padhi, accountant of Artha Tatwa (AT) group of Company, to December 23.


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