The Economic Offences Wing (EOW) of the State Crime Branch on Monday proposed to the State Government for liquidation of the Saradha Group’s properties in order to refund duped investors’ money as per the provisions of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.
The EOW submitted necessary property documents of the group’s 14 acres of land, bank transactions and other valuables it has seized. “We have attached properties of the Saradha Group in the State. We have also urged the State Government for liquidation of the property,” said DIG Rajesh Kumar. The DIG also informed that two top officials of the company were arrested earlier. Notably, the EOW had written a similar letter on November11 last urging the State Government for liquidation of the Seashore Group’s assets.