The ED raids Adarsh Group properties in Odisha as part of a major probe into the alleged chit fund fraud. The investigation gained momentum on Friday when Enforcement Directorate teams carried out coordinated searches in Cuttack and Bhubaneswar. The ED raids Adarsh Group locations to track financial links, assets and documents tied to the alleged scheme.
In Cuttack district, officials reached Nishchintakoili early in the morning and searched two key locations. One team inspected the ancestral home of Bijay Raut in Natakai village. Another team checked the residence of Jitendra Ojha in Ramakrishnapur panchayat. Officers reviewed documents and questioned people connected to these properties to trace the money flow.
Search operations also expanded to other locations linked to company employees, showing that the investigation now covers a wider network.
In Bhubaneswar, ED teams conducted major searches at two places, including the Nayapalli residence of Nikunj Samantaray. Officers focused on verifying documents, assets and links to the chit fund activities of the Adarsh Group.
The agency aims to uncover financial transactions and identify assets built through illegal collections. The investigation continues across multiple locations in the state.
