Odisha Government has issued an interim order for the attachment of properties of Kolkata-based ponzi scheme firm Saradha Group and the State-based Seashore Group of companies which allegedly duped investors of crores of rupees.
“The State Government has issued interim order for property attachment of both Saradha and Seashore Groups on the basis of proposal of the Economic Offence Wing (EOW) of the crime branch of Odisha Police,” Odisha Minister Prasanna Acharya informed the Assembly. The property attachment order has been issued under Section 3 of Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011 and the additional district magistrate of Balasore district, the competent authority under the act, has been intimated about it for attachment of Saradha Group’s properties, he said on Friday.
The additional district magistrate of Cuttack has been informed about the order regarding attachment of properties of Seashore Group, he added. Saradha Group had allegedly duped a large number of investors in both West Bengal and Odisha and Seashore Group in Odisha. “We have registered two cases against Saradha Group in Balasore district. So far fraud amount against Saradha Group is alleged to be about Rs 50 crore,” BK Sharma, additional director general (DG), crime branch, told PTI on Saturday. He said Saradha Group has about 15 acre land in Balasore town. “We will certainly recover the money by attaching the properties of Saradha,” he said.