Home ODISHA LATEST Govt orders attachment of ‘Sastra’ assets

Govt orders attachment of ‘Sastra’ assets


OST Bureau

Bhubaneswar, Dec 28:

After Saradha Group, the Odisha government has now passed an ad-interim order for the attachment of the movable and immovable assets of Sastra Enterprises Private Limited, another company which has also allegedly duped lakhs of depositors in the state.

The Finance department has recently transferred control over the properties of the company to the competent authority, namely additional district magistrate (ADM), Balasore to take further action against it as per the provisions of the provision under Orissa Protection of Interests of Depositors (in Financial Establishments) Act 2011 (Odisha Act 21 of 2013), said sources of Finance department.

It is to be noted that the Economic Offences Wing (EOW) of the Crime Branch (CB) had sought permission from the state government to attach properties of Sastra Enterprises, which has allegedly duped lakhs of depositors in the state after luring them with promises of high returns on their investments.

The EOW has submitted several files pertaining to the Sastra Group in connection with the multi-crore chit fund scam to the state Finance department.

It may be noted that the Chennai-based deposit collection company, through its real estate firm here, had duped investors in the state to the tune of Rs 15-20 crore. Its managing director V. Sampath was arrested in May 2013 and is currently lodged in jail.