No relief for Seashore CMD from district court
Jul 05, 2013
Source : Orissa Post

 

JEYPORE: In another setback to the Chairman-cum-Managing Director of Seashore group of companies Prashant Kumar Das, who is presently lodged in a jail in Koraput district, the District court here rejected his bail plea Thursday.
Das’ counsel T N Mutti urged the court to grant bail to his client but Public Prosecutor Prabhakar Patnaik opposed the plea saying police would soon file an application for taking Das on remand. After hearing the arguments of both sides, Judge Ajit Patnaik rejected the petition filed by Das.
Das, who was arrested by Economic Offences Wing of Crime Branch for duping thousands of investors of crores of rupees, had earlier filed an application in the Sub-Divisional Judicial Magistrate Court here seeking bail.
However, he did not get any relief from that court, following which he had moved the District court.
Some new cases were recently registered by the police here and Nabarangpur against Das and some other senior executives of his company under various Sections of Indian Penal Code (IPC) and Prize Chits and Money Circulation Scheme (Banning) Act for defrauding some more investors. The Crime Branch is presently investigating all these cases.

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