BALASORE: The Sub-divisional Judicial Magistrate of Balasore on Tuesday granted remand of Artha Tatwa Group CMD Pradip Sethi and director Manoj Patnaik for one more day. Earlier, Sethi was taken on a two-day remand.
Though police had sought their remands separately, the court allowed only one day. Following the court order; while Patnaikwastaken on the remand on Tuesday, Sethi is expected to be inter
rogated on Wednesday. Initially, police were planning to confront Sethi with Patnaik to ascertain the veracity of the data and information the former had given during his remand period.
Later, it decided to interrogate Patnaik first and then confront the duo. "We would gather details on his unlawful financial activities in the district besides the activities of Sethi and other officials of his company," a police official said.
Police said during interrogation, Sethi claimed to have mobilised nearly 50 crore from Balasore district and purchased landed properties. While some of the investors have already been provided with land plots as per the agreement with them, many are still in the queue.
Meanwhile, the remand period of Mid East MultiState Credit Cooperative Ltd's CMD Debesh Kumar Nayak has been completed and he was sent to judicial custody. He was taken on a three-day remand by the Town police.
"Nayak admitted to have collected nearly 20 crore from Balasore district alone," informed the official. The Mid East CMD was produced in the court after medical examination and landed once again in jail after the court denied him bail. While
AT Group has been accused of duping 120 crore in other areas of the State on the pretext of doubling the initial investment in three years, Mid East had allegedly mobilised 100 crore from at least six districts of the State.
AT Group chief had reportedly admitted to have mobilised nearly 300 crore from the State and purchased nearly 200 acres of land in various towns including Balasore, Berhampur, Sambalpur and in and around Bhubaneswar.