Odisha govt orders property attachment of Saradha, Seashore Groups

Saradha groupSaradha Group had allegedly duped a large number of investors in both West Bengal and Odisha. (PTI)

Odisha government has issued an interim order for attachment of properties of Kolkata-based ponzy scheme firm Saradha Group and the state-based Seashore Group of companies which allegedly duped investors of crores of rupees.

"The state government has issued interim order for property attachment of both Saradha and Seashore Groups on the basis of proposal of the Economic Offence Wing (EOW) of the crime branch of Odisha Police," Odisha minister Prasanna Acharya informed the Assembly.

The property attachment order has been issued under section 3 of Orissa Protection of Interests of Depositors (in Financial Establishments) Act, 2011 and the additional district magistrate of Balasore district, the competent authority under the Act, has been intimated about it for attachment of Saradha Group's properties, he said Friday.

The additional district magistrate of Cuttack has been informed about the order about attachment of properties of Seashore Group, he added.

Saradha Group had allegedly duped a large number of investors in both West Bengal and Odisha and Seashore Group in Odisha.

"We have registered two cases against Saradha Group in Balasore district. So far fraud amount against Saradha Group is alleged to be about Rs 50 crore," B K Sharma, additional director general (DG), Crime Branch, told PTI on Saturday.

He said Saradha Group has about 15 acre land in Balasore town. "We will certainly recover the money by attaching the properties of Saradha," he said.

As per the ad-interim order, land was purchased in the name of Saradha Realty India Ltd by its managing director Sudipta Sen and director Debika Dasgupta in Balasore.

The EOW has registered two cases against Sen and group director Debjani Mukherjee.

According to the provisions the Orissa Protection of Interests of Depositors (in Financial Establishments) Act, 2011 Act, the ADM would apply within 30 days to the designated court for making an ad-interim order of absolute attachment

... contd.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus