Home ODISHA LATEST State gears up to attach Saradha, Seashore assets

State gears up to attach Saradha, Seashore assets

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OST Bureau
Bhubaneswar, Dec 7:

In order to bail out thousands of duped investors, the state government has issued an interim order for attachment of properties of Kolkata-based chit fund company Saradha Group and the state-based Seashore Group of companies.
Saradha Group
Making an announcement to this effect in the State Assembly here on Saturday, finance minister Prasanna Acharya said the interim order had been issued on the basis of the proposal of the Economic Offence Wing (EOW) of the state Crime Branch.

The state government, in an order under section 3 of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011, has informed the Additional District Magistrate (ADM) of Balasore district and the competent authority under the Act for attachment of Saradha Group’s properties, the minister informed the House.

Besides, the ADM of Cuttack has also been informed about the attachment of properties of the Seashore Group, he said.

Additional Director General (ADG), Crime Branch, BK Sharma said two cases have been registered against Saradha Group in Balasore district.

Stating that the fraud amount against Saradha Group is alleged to be about Rs 50 crore, he said the 15 acres of land owned by the company in Balasore town would be attached.

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, Sharma said, adding that the EOW has registered two cases against Sen and group director Debjani Mukherjee.

According to the provisions the Act, the ADM would apply within 30 days to the designated court for making an ad-interim order of absolute attachment.