Home STATE Odisha court rejects bail plea of Seashore chief

Odisha court rejects bail plea of Seashore chief

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Reported by Santosh Jagdev
Bhubaneswar, Apr 9:

The District and Session Judge Court, Khordha today rejected the bail petition of Prashant Dash, the CMD of the Seashore Group of Companies, a major player in the mega chit fund scam in Odisha.

Prashant Dash, CMD, Seashore Group  (Pic-Biswaranjan Mishra)
Prashant Dash, CMD, Seashore Group
(Pic-Biswaranjan Mishra)

After hearing the arguments of both the plaintiff and CBI counsel, the court rejected the bail petition.

After filing of the charge sheet at the CBI court earlier, Dash’ counsel had moved the bail petition in the upper court after a rejection on the same at the CBI court here.

The CBI had filed a preliminary charge sheet against the Seashore group of companies in the mega Odisha chit fund scam case at the special CBI court on March 7.

The 276-page charge sheet had named Seashore CMD Prashant Dash, his brother Pravat Dash and middleman Subhankar Nayak and accused the company of swindling Rs 578.20 crores from the investors in the state.