EOW seeks to confiscate assets of ponzi firms Greenray, Astha

Bhubaneswar, Apr 19:

Days before the next hearing on the PIL on chit fund scam in the Supreme Court , the Economic Offence Wing (EOW) of the Odisha Crime Branch police today sought permission of the Finance department to confiscate the properties of two chit fund companies Green Ray International and Astha International, said sources in the Crime Branch.green-ray-logo
The two companies which are part of the grand multi-crore rupee chit fund scam in the state have allegedly defrauded depositors of more than Rs 500 crore, the sources added.

Earlier, the EOW had handed over documents of five chit fund companies Flourish India, Saradha Group, Sastra Enterprises Pvt Ltd, AT Group and Seashore Group to the Finance department for attachment of properties, the sources said.

The EOW has so far seized cash worth Rs 86 lakh, Rs 127 crore by freezing bank accounts, 203 kg silver, 1,583 kg gold and 22 four wheelers, the sources added.

Sources said the investigating agency has also seized land in the name of different companies which includes 204 acres from Seashore Group, 1,364 acres from Saradha Group, 234 acres from Artha Tatwa group and 24 acres from Flourish India.

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1 Comment

    Why did it take such a long time to confiscate properties of these two chit fund companies – Green Ray International and Astha International? Whose black money was being invested in these two chit fund companies? Are any bureaucrats or politicians involved in this ? This delayed action will not be of any help to the Odisha government in the Honourable Supreme Court in the next hearing on 23.4.2014.

    Jayanta Kumar Das, 9861770749(M)

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