HC breather for Midas Touch director Nirupama Samal

Cuttack: The Orissa High Court today granted conditional bail to director of Midas Touch chit fund company Nirupama Samal against two bailers and surety of Rs 2 lakh.

The Court has clarified that Samal has to deposit Rs 2 crore and surrender his passport to avail the bail.

In July 2016, the Central Bureau of Investigation (CBI) had arrested her and husband Soubhagya Kumar Samal who was managing director of the company in connection with the multi-crore chit fund scam.

They were arrested from Vadodara of Gujarat with the help of local police.

The CBI had taken over the case in 2014 and filed a charge-sheet on April 17, 2015.

The CBI had registered a case against Soubhagya, his wife and nine others for allegedly cheating investors to the tune of Rs 16.88 crore.



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