Seashore money invested in Govt projects: BJP
Nov 16, 2013
Source : The Times of India


BHUBANESWAR: The deposited money with the Seashore Group by the investors has been used in many public projects by the Government illegally against the interest of the depositors. In a joint venture with the Government, the money was invested in the OTDC and health projects of the State. Besides, a major portion has been spent in the beautification of river bank of Cuttack, alleged State BJP spokesperson Sameer Mohanty in a Press release here, asking if the money could be returned to the investors.

Mohanty said the Crime Branch (CB) has proposed the State Government to attach the properties of the Seashore Group for liquidation under Section 3 of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act (OPID), 2011. The law also states that any development projects carried on with the money of a tainted company should be seized. However, the list of properties prepared for attachment excludes the Government projects, said Mohanty.

He said property documents of the STV Samachar, Soubhagya Drinks and Seashore Dairy Products, apart from a list of machineries, fittings and equipment belonging to Seashore have been enlisted for consideration of liquidation but there is no mention of the money invested in different Government projects. Mohanty also sought a clarification from the Government as to where can the money invested in the public projects be repaid.

Similarly, he said the CDA property, plot no 11-3B/1332 in sector-II of Bidanasi project area, bought by Pradeep Sethy was from the money of the depositors deposited in the AT Group of which Sethy was the CMD. “So according to the OPID Act, it should be confiscated. But the plot was transferred in the name of the State Advocate General Ashok Mohanty. It must be noted that the transfer was made even after an FIR was registered in the name of Sethy. So, what is the reason of leaving the plot out of the attachment,” questioned Mohanty, adding that under the new law the plot must be confiscated.

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