Home BIG STORY HC breather for Odisha MP Rabindra Jena in Seashore chit fund scam

HC breather for Odisha MP Rabindra Jena in Seashore chit fund scam

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Cuttack: In a major relief to Odisha MP Rabindra Jena, the Orissa High Court today granted anticipatory bail to the Lok Sabha member in connection with multi-crore Seashore chit fund scam.

The court granted anticipatory bail with a condition that he would be released on bail if the investigating agency arrests him.

Earlier in March, 2017, the High Court had granted interim protection to Jena.

Prior to that in January 2017, the BJD MP had moved the High Court seeking anticipatory bail, after his residences in Balasore and New Delhi were raided.

Worth mentioning, Jena had appeared before the CBI multiple times in connection with his business links with the Seashore Group of Companies. The businessman-turned-politician headed the Supratik group of companies, which had availed term loan of about Rs.18 crore from the Ponzi firm in 2011-12.

The Balasore-based entrepreneur was under the CBI scanner for the alleged dubious transactions. Besides, the central investigating agency alleged that Jena did not repay the loan amount which amounted to conspiracy and embezzlement of public deposits.