EOW seeks govt nod to attach Safex India assets

Reported by Santosh Jagdev

Bhubaneswar, Jan 18:

The Economic Offences Wing (EOW) of the State Crime Branch on Saturday sought permission of the Finance department for liquidation of the assets of chit fund company Safex Infra India Limited’s to facilitate refund of money to duped investors as per the provisions of the Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011.

CB sources said the department has requested the Finance Department to issue an interim attachment order under Section 3 of the Act so that the assets of Safex India Limited can be liquidated and auctioned and the proceeds returned to the depositors.

In September, 2012, the crime branch team had raided the offices of the chit fund company at Berhampur, Chhatrapur and Bhubaneswar after allegations by hundreds of depositors in the state that it had cheated them of around Rs 10 crores on the promise of high returns.

Six senior company officials were arrested, important documents seized and bank accounts of the company frozen by the CB earlier.

The Crime Branch officials had seized 15 acres of land possessed by the chit fund company across the state, besides Rs 5 lakh in bank deposits of the company, CB sources said.