Crime Branch seals farmhouse, branch offices of Seashore Group
EOW has sealed nearly 15 immovable assets, including the company's head office at Patia
May 29, 2013
Source : The Times of India


BHUBANESWAR: The Economic Offences Wing (EOW) of the Crime Branch (CB), probing the multi-crore financial fraud by Seashore Group, on Tuesday seized some immovable property of the dubious multi-business conglomerate in Bhubaneswar, Cuttack and Angul.

A 15-acre farmhouse, recorded in name of the mother of company's CMD Prasant Kumar Das, a cold storage and a branch office of the company were sealed at Angul. Several duped investors had been protesting in front of the farmhouse demanding their money back. In Cuttack, the EOW sealed the company's branch office and a music unit, running from a rented building at Link Road. Though the EOW sleuths raided Bhanjaprava Market here where Seashore Group was having an office, they did not seal it as the space had already been rented out to another person. "We found a costly generator of the company there and have seized it," said a senior CB officer.

So far the EOW has sealed nearly 15 immovable assets, including the company's head office at Patia here, branch offices at different places and industrial units at Jagatpur, near Cuttack, among others. Movable assets, including four expensive cars, have so far been seized.

The EOW had in July last year booked Das and five other directors of the company for allegedly siphoning off public money to the tune of nearly Rs 500 crore. The CB recently wrote letters to registrar of companies and registrar of cooperative societies to cancel the licences of Seashore Group of companies for illegally running money circulation business in Odisha.

The Supreme Court had last month asked Das to furnish a reply on the charges filed against him by the CB. The CB had recently moved the apex court seeking cancellation of Das bail, granted by the Orissa high court on October 17, 2012. Prior to granting him bail, the high court had provided interim protection to Das by restraining the CB from arresting him until further orders.

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