Home HEADLINES Odisha chit fund scam: HC reserves verdict on Seashore chief’s bail plea

Odisha chit fund scam: HC reserves verdict on Seashore chief’s bail plea

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Odisha Sun Times Bureau
Cuttack, Feb:

The Orissa High Court today kept its verdict reserved on the bail plea of Seashore Group chairman Prashant Dash after hearing both sides.

PRASANTA DAS (1)

Prashant’s lawyer contended that his client was arrested at the time when deposits of investors of his company were nearing maturity. It was the Crime Branch which was investigating the case first and later it is being investigated by the CBI. None of them have found credible evidence against his client despite of the investigation nearing completion, he added. Therefore, there was no obstacle in allowing his client to be released on bail, he argued.

On the other hand the CBI’s counsel contended that since the Supreme Court has rejected the bail application of Pravat Dash, another director of Seashore Group who had a lesser role than Prashant in managing the company, hence he should not be allowed to go on bail.