In order to get clearance for disposal of properties of chit fund company Saradha Reality, Additional District Magistrate (ADM) Akshay Mohanty on Friday approached designated court of the Additional Sessions Judge Gangadhar Pati for absolute attachment of the company’s properties.
ADM Mohanty said, “The investors’ amount could be around Rs 4 crore as assessed on the basis of their reports. The company’s properties, mostly around 14 acres of land, have been attached as an interim action. Therefore, today a prayer was made for absolute attachment before auction of the properties.” The company had siphoned several cores of rupees from the investors in the name of providing high returns and doubling their principals within a short period.
Two persons, Basudev Samal and Bichitrananda Das were arrested for the scam. Samal was the branch head of the company in Baleswar while Das provided all logistic supports to the company for its establishment and operation here, Economic Offences Wing (EOW) DIG Rajesh Kumar had informed during their arrest.