BALASORE: Artha Tatwa (AT) Group Managing Director (MD) Manoj Patnaik, who was taken by Sahadebakhunta police on remand, was sent to judicial custody Wednesday after interrogation.
However, the Group’s Chairman-cum- Managing Director (CMD) Pradip Sethi, who was remanded in custody for the second time, after obtaining permission from Sub-Divisional Judicial Magistrate, will not be interrogated by the police, said Sahadebakhunta police station IIC Manoj Rout.
During interrogation, Patnaik provided some valuable information on the movable properties the Group in Balasore district. He said the company has 18.5 acre land – 11 acre at Sargaon under Sadar block, five acre near Sheragada village under Remuna block and 1.5 acre near Jyoti Hospital on the outskirts of the town. The value of these properties could be around Rs 6 to Rs 7 crore. But, it was estimated that the amount might not be enough to pay interest to the company’s depositors. Police said Patnaik does not have any data on the company’s transactions.
Notably, Sethi and Patnaik were brought on remand by Sahadebakhunta police, June 27. As their remand period ended Wednesday, they would be sent back to Jharpada jail in Bhubaneswar, sources said.