Sarala Realcon MD gets Bail in Chit fund scam

Cuttack, May 20: Gayadhar Jena, the MD of Sarala Realcon, has been granted a conditional bail in the chit fund scam. He had been lodged in Jharpada jail in Bhubaneswar after his arrest on March 16 by the Economic Offences Wing (EOW) of Odisha Crime Branch.

A court in Cuttack granted the bail to Jena asking him to deposit Rs 8 crore and surrender his passport. He will also furnish a surety deposit of Rs 30,000 and two bailers. He was asked to cooperate with the crime branch in the investigation.

Jena is accused of duping 250 people of Rs 15 crore alluring them with land in the state capital.