Micro Finance Chief Durga Mishra Gets 3 Years Jail Term

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Bhubaneswar:A special CBI court convicted Micro Finance Ltd Chief Durga Mishra to three years of rigorous imprisonment and also directed him to pay Rs 215 crore as compensation in a multi- crore chit fund scam.

Earlier on July 7th, MFL MD, Ashok Kumar Patnaik was sentenced to three and a half years of conviction and was asked to deposit Rs 105 crore over chit fund scam. The investigating agency had earlier filed a charge sheet against five people including Durga Prasad Mishra, Ashok Kumar Patnaik and three other directors of MFL. They were charged under various sections of the IPC. The company faced charges of duping depositors of around 400crores by floating six companies in Odisha. The company included Micro Leasing and Funding, Micro Hotels, Micro Media, Micro Hospitals and Micro Constructions.

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