The State government has issued an interim order for attachment of properties of Kolkata-based firm Saradha Group and the State-based Seashore Group of companies which allegedly duped investors of crores of rupees in Ponzi scheme.
“The State government has issued an interim order for property attachment of both Saradha and Seashore Groups on the basis of proposal of the Economic Offence Wing (EOW) of the crime branch of Odisha Police,” Odisha Minister Prasanna Acharya informed the Assembly.
The property attachment order has been issued under section 3 of Orissa Protection of Interests of Depositors (in Financial Establishments) Act, 2011 and the additional district magistrate of Balasore district, the competent authority under the Act, has been intimated about it for attachment of Saradha Group’s properties, he said yesterday.
The additional district magistrate of Cuttack has been informed about the order about attachment of properties of Seashore Group, he added.
Saradha Group had allegedly duped a large number of investors in both West Bengal and Odisha and Seashore Group in Odisha.
“We have registered two cases against Saradha Group in Balasore district. So far fraud amount against Saradha Group is alleged to be about Rs. 50 crore,” B. K. Sharma, additional director general (DG), Crime Branch, said on Saturday.
He said Saradha Group has about 15 acres of land in Balasore town. “We will certainly recover the money by attaching the properties of Saradha,” he said.
As per the ad-interim order, land was purchased in the name of Saradha Realty India Ltd by its managing director Sudipta Sen and director Debika Dasgupta in Balasore.
The EOW has registered two cases against Sen and group director Debjani Mukherjee.
According to the provisions the Orissa Protection of Interests of Depositors (in Financial Establishments) Act, 2011 Act, the ADM would apply within 30 days to the designated court for making an ad-interim order of absolute attachment and for direction to sell the attached property by public auction and realise sale proceeds within 180 days. - PTI