The CBI probing the chit fund scam in the State arrested builder Sagar Ray on Friday for his alleged links with chit fund company Artha Tatwa (AT) Group.
Ray, one of the proprietors of a city-based real estate firm Orison Properties ltd, had appeared before the CBI team in the morning for questioning for the third time.
According to sources, the builder along with his partner Vineet lalani, who was also arrested by the CBI, had allegedly taken huge amounts of money from the AT Group for their real estate and construction business.
The sources further stated that the Orison Properties ltd had constructed an apartment at Sundarpada in the city using AT Group money. However, lalani later sold the apartment, but did not repay the amount he had taken from the AT Group, it added.
Meanwhile, the Khordha District and Sessions Court on Friday deferred hearing on the bail petitions of Pradeep Kumar Sethy, AT Group CMD and Mumbai stock broker Deepak C Parekh, both arrested by the CBI for their alleged complicity in the chit fund scam in the State.
The court would hear Sethy’s bail petition on November 21, while Parekh’s bail plea would be heard on November 20. Both are currently lodged in the Jharpada jail here.
Notably, Parekh was arrested by the CBI on September 21 for his alleged links with Sethy.
Amicus curiae withdraws plea
Shyam Divan, the amicus curiae in chit fund scam case, withdrew on Friday his application submitted before the Supreme Court following the apex court raised a question on justification of the plea.
The apex court said during its hearing of the application the job of amicus curiae is to help the court, not to make allegations. If there is any grievance, the petitioner or affected parties can move application in the court, added the SC.
Notably, Divan sought the court’s intervention in monitoring the progress of the probe into chit fund scam case.
In his application, Divan also said the Odisha Government was not cooperating with the CBI and Enforcement Directorate (ED) in the probe.