HC notice to govt, RBI on Seashore plea
Aug 01, 2013
Source : Orissa Post


CUTTACK: Acting on the petition filed by Seashore group of companies seeking defreezing of its bank accounts, Orissa High Court Tuesday served notices on the Reserve Bank of India (RBI), state government , crime  branch (CB) of the state police and others to respond in this connection.

According to the petition, the economic offences wing (EOW) of CB had sealed 25 subsidiaries and frozen 126 bank account of the group, the CB sleuths raided several offices of the company July 18 following which the former had written a letter to the state government urging it to scrap its license on charges of fraud, financial irregularities and swindling public money.

The CB had sealed the head office of the company May 18 which followed a series of seizures of the company offices. The EOW has charged Seashore chairman-cum-managing director Prashant Das with fraud of Rs 1,000 crore and arrested him from Mumbai.

The company moved the HC alleging that the CB had seized its accounts without mandate and prayed to defreeze the account. A division bench comprising Justice Pradip Mohanty anf Biswajit Mohanty heard the case.     

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