Balasore, Mar 19: A session court Wednesday granted a three-day remand of Raja Chakra, who was arrested in connection with a multi-crore financial fraud linked to the Gandhamardan Loading Agency and Transporting Co-operative Society Limited in Keonjhar district.

Soumya Shankar, also known as Raja Chakra, was arrested by the Economic Offences Wing (EOW) of the Odisha Crime Branch. Following the arrest, Raja was produced before OPID court in Balasore.

According to reports, the EOW team had sought a five-day remand of the accused.

It mentions that after a marathon raid lasting over a week, the Crime Branch had detained Raja Chakra on March 13. Following interrogation, he was arrested and has since then he has been in the judicial custody.

The EOW of the Crime Branch had earlier in February 2025 registered a case based on a complaint of alleged irregularity in the functioning of Gandhamardan Loading Agency and a transporting cooperative society limited and misappropriation of funds of the cooperative society in the mineral-rich Keonjhar district.

During the investigation, it was found that the loading agency had earned around Rs 185 crore from 2017-18 to March 24.

The investigation also revealed that the cooperative society president and secretary, namely Manas Barik and Utkal Das, with the help of some other local influential persons had defrauded huge sums.

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