deposit of their money. The petitioners are the Directors of Ramel Group of Companies under the umbrella of which (I) Ramel Pharma Limited; (II) Ramel Industries Limited; (III) Ramel Real Estate and Infrastructure Limited also run. The petitioners are facing the cases running in the courts of West Bengal, Asam and other places. The Ramel Group of Companies were operating 13 branches in different Districts of the State of Odisha. The branches were at Koraput, Nabarangpur, Balasore, Kalimela, Cuttack, Baliguda, Baripada, Rourkela, Gunupur, Nabarangpur-2, Malkangiri, Puri and Sonepur. These two petitioners are the Promoter-Directors since the inception. It is stated that so far traced out, all these Companies were in total dealing with 180 Bank accounts and the PAN INDIA situation as to collection of funds is around Rs.2741 Crores out of which the outstanding stands at Rs.2392 Crores. Investigation reveals that a sum of Rs.8.6 crore has been transferred to the personal account of petitioner no.1 whereas there has been transfer of amount of Rs.7.8 Crores to the personal account of petitioner no.2. As finds mention in the charge-sheet, the Company by engaging employees and agents, who are basically unemployed youths, had been collecting huge amount from the innocent persons all throughout making them believe that their investment in their hands are all safe and secured and the returns are assured under different schemes of the Companies. It has also been unearthed in course of investigation that for the purpose huge commission to those engaged in collection; even at times up to 32% of
