In a major breakthrough in the case relating to Rs 1.3 crore financial irregularities in the Bhubaneswar Stock Exchange (BhSE), Orissa crime branch police today arrested the executive director of the bourse, Jay Sadany, secretary Sanjay Mohapatra, former BhSE president Manoj Thacker and former treasurer D P Singh for their involvement in the scam.
The police said, they have been arrested under various sections of Indian Penal Code on charges of forgery, cheating and misappropriation of funds.
Meanwhile, the Bhubaneswar sub-divisional judicial magistrate (SDJM) court, in which the arrested persons were produced by the police, remanded them to 14 days judicial custody.
The BhSE council today met in an emergency meeting to take stock of the situation arising out of arrest of two key officials of the bourse. It also deliberated on how to run the exchange in the absence of executive director and secretary for the next couple of days before an alternative arrangement is made.
The scam in BhSE relates to siphoning of Members
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