The District and Sessions Judge, Khordha, on Thursday rejected the bail petition of Seashore Group of Companies chairman-cum-managing director (CMD) Prashant Dash. The court’s order followed hearing of arguments of the counsels of both the plaintiff and the CBI. After filing of the chargesheet at the CBI court earlier, Dash’s counsel had moved the bail petition in the upper court after it was rejected by the CBI special court.
The CBI had filed a preliminary chargesheet against the Seashore Group in the mega chit fund scam case at the special CBI court on March 7. The 276-page chargesheet had named Prashant Dash, his brother Pravat Dash and middleman Subhankar Nayak and accused the company of duping investors of Rs578.20 cr in the State.