Police seal chitfund offices in Odisha
During his arrest had claimed that he had bribed certain politicians including a minister, media persons and builders.
May 30, 2013
Source : The Times of India

 

BHUBANESWAR: Cracking down on ponzy scheme companies, Odisha police said three more offices of Seashore Group were sealed and one of the directors of Artha Tatwa (AT) Group was arrested today, official sources said.

 

Both Seashore and Artha Tatwa groups have allegedly duped thousands of gullible investors across the state.

 

"We have taken Srikrushna Padhi into custody after his arrest. As per documents available with us, Padhi is member of the Board of Directors of AT Group," said DCP Nitinjit Singh.

 

Padhi is editor of an Odia newspaper besides being Odisha representative of a Hindi news channel, he said.

 

Earlier, the DCP had said that the police was investigating role of certain media persons and their links with the chitfund companies.

 

CMD of AT group Pradip Sethi and another director Jagabandhu Panda are in jail here after their arrest.

 

Sethi, during his arrest had claimed that he had bribed certain politicians including a minister, media persons and builders.

 

Three properties of Seashore Group in Angul were sealed, official sources said, adding the confiscated properties are the company's multipurpose co-operative society office, a workshop and an office of its real estate division.

 

The police have so far sealed six premises of Seashore Group including its headquarters, a dairy farm at Jagatpur, a mineral water bottling plant and two rice mills, besides seizing an SUV of the company and Rs 2 crore in bank deposits, the sources said.

 

Seashore Group which has spread its businesses into multiple sectors is believed to have mopped up several hundreds of crores rupees from the people.

 

Meanwhile, BJP alleged a "fixing" between Artha Tatwa Group and the ruling BJD and demanded polygraph test of Sethi.

 

"We suspect an unholy understanding between Sethi and the state government. The government will relax case against Sethi and in return the AT Group CMD is asked not to name any minister or BJD MLA," BJP state general secretary Suresh Pujari told reporters here.

 

He said Sethi before going to jail stated that he had bribed a minister, MLAs, a top leader, media persons and builders. However, the commissionrate of police which is probing the matter claimed that Sethi did not disclose name of any minister of MLAs.

 

Sethi, however, revealed names of certain media persons and builders, city DCP Nitinjit Singh had said.

 

Terming clean chit given by police to politicians in the illegal chitfund scam as unacceptable, Pujari said, "It appears a fixing between the ruling BJD and AT group CMD."

 

Alleging that senior government officers were also involved in chitfund scam and helping Sethi, Pujari said the AT Groups application for certain project had been approved on the day it was received. "AT group's application was approved by the office of the assistant registrar cooperative society," Pujari claimed.

 

Meanwhile, Congress has demanded a CBI probe into the chitfund scam or investigation under the supervision of Orissa High Court.

Latest Realty News

JLLI closes Pune's largest M&A deal of 2013 at Blueridge SEZ, Hinjewadi
May 30, 2013
Leading international property consultants Jones Lang LaSalle India have successfully concluded the largest M&A real estate deal in Pune this year to date. Acting on behalf of the company holding BlueRidge Special Economic Zone (SEZ) Phase 1, the Firm's Capital Markets team has successfully facilitated the sale of 100% equity in the company to IDFC Limited, one of India's largest domestic financial institutions.
Noida circle rates to go up, 17-35 per cent hike proposed
May 30, 2013
Buying land or a house in Noida, Greater Noida or along the Yamuna Expressway may soon get costlier as the stamp and registry department has proposed to increase the circle rates by up to 35%. This proposal comes within days of the three development authorities hiking property rates by up to 30% after their board meeting on Saturday.
Eden City launches “Homegain” – home owning option
May 30, 2013
Eden City Group one of the renowned real estate developers in the city with its flagship project Eden City Maheshtala has announced ‘Homegain’, an innovative home owning option. ‘Homegain’ home owning option is offered for its ready-to-move-in apartments that allow one to take possession of his new home by paying a minimum of 20% of the property value. The buyer is also required to sign a home loan agreement for the balance amount; the EMI for which starts after one year.
MCHI-CREDAI to focus on generation next developers
May 30, 2013
In a bid to strengthen its presence in Mumbai Metropolitan Region (MMR), developers body MCHI-CREDAI has decided to set up its Youth Wing and increasingly involve the generation next.
Noida Board approves Rs 10,017 crore budget
May 30, 2013
Noida Board on Monday gave its approval for a Rs 10,017 crore budget for the year 2013-14, which is 43 percent more than last year's budget.
Property prices stagnant in Indore
May 30, 2013
Prices of residential properties in Indore continue to be stagnant compared to price of residential properties in Bhopal. It is despite the fact that both in the state are among 20 cities of the country, which have witnessed the maximum price hike in residential properties during January-March 2013 over the previous quarter, as per a study by the NHB (National Housing Bank) Residex.
Rajiv Awaas Yojana to make Allahabad slum-free
May 30, 2013
The city slums are set for a makeover. The slum dwellers would be provided concrete houses under a comprehensive project under the Rajiv Awaas Yojana. On Monday, a workshop was organized for the same where corporators and district authorities exchanged views, complaints and suggestions over it.
Mumbai-Goa highway owes killer tag to delay in expansion
May 30, 2013
Four head-on collisions this week have killed eight people and injured 14 on the narrow Mumbai-Goa stretch of the NH-17, but work on widening the highway is unlikely to start before 2015.
Land acquisition for theme park in Malvan to start
May 29, 2013
: In the pipeline for the last three years, work on the ambitious Oceanarium-based theme park might just taken off now. The Maharashtra Tourism Development Corporation has issued a government resolution to acquire 1,400 acres of land in Tondavali-Vayangani villages in the Malvan tehsil of Sindhudurg district, where the park showcasing sea creatures from around the world will be located.
Solar rooftops a must for New Town highrises in Kolkata
May 29, 2013
The New Town Kolkata Development Authority (NKDA) on May 25th took a stride forward to turn Rajarhat-New Town into a solar city. It has made it mandatory for all commercial and residential highrises to install solar rooftop systems to meet at least 2% of the buildings’ electrical load requirement.

Latest Realty News Of State

Realty Talk's