Bhubaneswar, Mar 8 (IANS): The Economic Offences Wing (EOW) of Odisha police has arrested Tapan Kumar Samanta, a chit fund company director, for duping investors money of around Rs 15 crore, officials said here on Tuesday.

Earlier, the chit fund company's chairman and managing director, Pratap Kumar Biswal was arrested in the case.

Tapan was arrested from Kolkata in West Bengal and produced before the additional chief judicial magistrate, Baruipur, Kolkata on Monday. On the strength of transit remand, the arrested accused has been produced before the designated court, under OPID Act, at Balasore in Odisha, the EOW said.

The accused have been arrested in a case registered on the basis of a written complaint filed by one Sukadev Hota, Balasore against Pratap, CMD of Mass Infra Reality Ltd. and Human Welfare Credit & Thrift Co-operative Society Ltd. and its other six directors, including Tapan.

During investigation, the police found that Mass Infra Reality Ltd. was registered with Registrar of Companies, Kolkata during September, 2010 under the Companies Act, 1956. Pratap Biswal was its CMD and Tapan Samanta is one of the directors.

Subsequently, in 2012, the company changed its name to Human Welfare Credit & Thrift Co-operative Society Ltd. registered under Multi State Cooperative Societies Act, 2012 and Biswal was its president.

The accused have duped the complainant and many other depositors to the tune of Rs 15 crore on the pretext of returning a high rate of interest on deposits under different schemes floated by their company, the police said.