Latest Realty News

EOW Proposes to Attach Assets of Two Chit Fund Companies
May 02, 2014
BHUBANESWAR: The Economic Offences Wing (EOW) on Saturday proposed for attachment of assets of two chit fund companies which had been booked for running illegal money circulation schemes in the State.
Govt attaches properties of 'cheat' fund company
Jan 21, 2014
BHUBANESWAR: The state government has ordered attachment of properties of Flourish Development India, which is accused of misappropriating nearly Rs 100 crore of over 5,000 investors in the state.
EOW Submits Proposal for Attachment of Safex Properties
Jan 21, 2014
BHUBANESWAR: The Economic Offences Wing (EOW) of the Crime Branch on Saturday submitted before Finance Department the proposal for attachment of properties of Safex Group of Companies which has been charged with cheating investors.
Odisha orders property attachment of Saradha, Seashore Groups
Dec 09, 2013
BHUBANESWAR: Odisha government has issued an interim order for the attachment of properties of Kolkata-based ponzi scheme firm Saradha Group and the state-based Seashore Group of companies which allegedly duped investors of crores of rupees.
Seashore money invested in Govt projects: BJP
Nov 16, 2013
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 investo
Government misleading people on chit fund scam probe: BJP
Sep 12, 2013
BHUBANESWAR: The BJP on Wednesday slammed the State Government for misleading people on the agencies investigating into the multi-crore chit fund scam.
Opposition seeks white paper on chit fund
Aug 23, 2013
BHUBANESWAR: The assembly on Thursday witnessed noisy scenes over the chit fund scam with the opposition parties demanding a white paper on it.
Chit fund panel extends affidavit filing deadline
Aug 22, 2013
CUTTACK: The Justice R K Patra Commission of Inquiry, probing into the multi-crore chit fund scam in the state, on Wednesday extended the deadline for submission of compliants before it by 18 days.
Pyari for CBI probe into chit fund scam
Aug 05, 2013
BHUBANESWAR: Rajya Sabha member and president of Odisha Jana Morcha Pyari Mohan Mohapatra on Saturday reiterated his demand for a CBI probe into the multi-crore chit fund scam.
Chit fund scam: Justice Patra to hold prelim hearing from Sept 6
Aug 03, 2013
BHUBANESWAR/CUTTACK: RK Patra, retired Chief Justice of Sikkim High Court and former Chairman of Odisha Human Rights Commisssion, probing the multi-crore chit fund scam in the state will start hear­ing of the case from September 6.
HC notice to govt, RBI on Seashore plea
Aug 01, 2013
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.
Seashore CMD denied bail
Jul 27, 2013
BHUBANESWAR: Seashore Group CMD Prashant Kumar Dash was on Friday produced before the Nabarangapur Sub-Divisional Judicial Magistrate (SDJM) Court here for his alleged fraudulent activities and embezzlement of money through Seemanchal Multi Purpose Cooperative Ltd in the periphery of Nabarangpur.
‘Sachin has failed to handle chit fund scam’
Jul 20, 2013
BHUBANESWAR: Being the Union Minister of Corporate Affairs, Sachin Pilot has failed in his responsibility to regulate and monitor the chit companies as most of them had obtained registration from the Ministry of Corporate Affairs. It was his responsibility to save the investors’ money,” alleged State BJP spokesperson Sajjan Sharma on Friday.
‘Chit fund: Centre to cooperate if State wants CBI probe’
Jul 20, 2013
BHUBANESWAR: Union Corporate Affairs Minister Sachin Pilot on Friday said if the Odisha Government requests for a CBI inquiry into the chit fund scams in the State, the Union Government would be ready to help.
Naveen Patnaik shielding AT Group chief: Pyarimohan Mohapatra
Jul 14, 2013
BHUBANESWAR: Odisha Jan Morcha chief Pyarimohan Mohapatra on Saturday accused Chief Minister Naveen Patnaik of protecting controversial Artha Tatwa (AT) Group chief Pradeep Sethy.
Street play creates awareness on chit funds
Jul 11, 2013
BHUBANESWAR: In the wake of the large-scale chit fund scams by various fraudulent agencies and organisations in the State, the Vandemataram group on Tuesday staged a street play here at the Master Canteen Square appealing to the people not to go by the tall promises of the chit fund companies and save their money in legal agencies following proper verification.
Opposition sees poll stunt in fund balm
Jul 11, 2013
BHUBANESWAR: The ruling BJD announcing a Rs 300 crore corpus fund to help victims of the mega chit fund scam has raised several eyebrows, with the opposition dubbing it as an 'election gimmick' and reiterating its demand for a CBI probe to unravel the truth.
Reality check for realty sector
Jul 09, 2013
BHUBANESWAR: In a worrying trend for realtors, housing prices in the city has stagnated at pre 2009-2010 level. Several factors, including supply exceeding demand and eroding people's trust on developers due to series of scams are to blame, industry watchers said.
Seashore Group into Diamond Trade
Jul 06, 2013
BHUBANESWAR: The Eco­nomic Offences Wing, which is investigating the financial fraud by Seashore Group, has found that the company was also into diamond busi­ness. Seashore chief Prashant Dash, who was arrested from Mumbai last month, fre­quented the Western Indian States in connection with its diamond business too. He had visited Surat apart from operating out of Mumbai.
No relief for Seashore CMD from district court
Jul 05, 2013
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.
Seashore boss’s Mercedes seized from Mumbai
Jul 04, 2013
BHUBANESWAR: The Economic Offences Wing (EOW) of the Crime Branch seized a luxurious Mercedes-Benz car from the possession of Seashore Group CMD Prashant Dash. The EOW located the car from Mumbai where Dash was arrested by the police.
CB hot on trail of Seashore wealth
Jul 03, 2013
BHUBANESWAR/KORAPUT: After seizing 1,000 silver coins worth nearly Rs 44 lakh from Seashore Group CMD Prasant Dash's bank locker, the Crime Branch (CB) has launched a drive to locate more silver coins and gold ingots, which the company had allegedly purchased in past few years.
Ponzi company CMD again denied bail in Odisha
Jul 02, 2013
KORAPUT: A district court today rejected the bail petition of Seashore Group CMD Prashant Dash in the chitfund scam for the second time.
Seized film was screened in 2011 Mumbai festival
Jul 01, 2013
BHUBANESWAR: When the Crime Branch claimed to seize two reels of forthcoming Odia movie Matira Bandhan (The Inheritance) as the fraud deposit collection company Seashore head Prashant Dash had invested in it, the same film was already screened at the prestigious Mumbai Film Festival organsied by the Mumbai Academy of Moving Image (MAMI) on October 15, 2011 at Cinemax, Sion between 3.30 pm and 5.30 pm in the Indian Frame category. This was revealed by the programme schedule of the festival.
Chit fund scam Congress poll plank
Jul 01, 2013
BHUBANESWAR: In a bid to make the chit fund scam a major issue in the urban local body (ULB) polls scheduled later this year and the 2014 elections, the State Congress constituted a state-level cell to provide legal assistance to persons defrauded by the finance companies.

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