The Crime Branch wrote to the Registrar of Companies (RoC) to discard the licence of the Seashore Company for cheating investors of Rs 900 crore on false promises.
The investigating agency has also started a process so that the licences of other fraudulent chit fund companies registered with the ROC and the Registrar of Cooperative Society are cancelled.
Notably, the Crime Branch, whose raids are still continuing across the State, has sealed several chit fund firms’ offices. Till Tuesday, i.e. fifth day of the massive raid, the Crime Branch has lodged 164 cases against 79 financial firms and arrested 168 persons in connection with the illegal money circulation and cheating.
One of the big catches of the Crime Branch for Tuesday was Basil International’s Bhadrak branch manager. He was arrested by the Crime Branch for cheating investors on the basis of complaints against him.
Meanwhile, scores of depositors in Surat in Gujarat, where a good number of Odia people are living, demanded that Green India, a chit fund firm, had cheated them of over Rs 15 crore on promising hefty returns. The Surat Odia Welfare Association lodged a complaint with the Police Commissioner and the District Collector of Surat to take action against the company.