The Economic Offences Wing (EOW) of the Crime Branch police on Friday sought permission of the State Finance Department to seize the assets of Sai Pragati, a non-banking financial company which has duped investors of the State of at least Rs100 crore.
“We have received a request from the EOW for seizure of the company’s assets. We shall look into the request and take a call on it soon,” said Finance Department Joint Secretary Pradip Kumar Biswal.
The company has about 47 acres of land in Bhubaneswar and its outskirts, besides Rs2.70 crore in its bank account, which has since been sealed. The EOW has already registered four cases against the company. Notably, investors of the Sai Pragati ponzi firm have been demanding before the Chief Minister Naveen Patnaik to recommend a CBI probe into the Sai Pragati and its sister firm S-Virgin as their scams involve at least Rs100 crore.