HC serves notice to Odisha govt on validity of OPID Act

Odisha Sun Times Bureau
Cuttack, Jun 28:

The Orissa High Court today served notice to the Odisha government to file a counter on a petition challenging the constitutional validity of Odisha Protection of Interest of Depositors (in Financial Establishments) Act (OPID Act).

The High Court issued the notice after a division headed by Chief Justice conducted a preliminary hearing on a petition filed by Prashant Kumar Dash, managing director of Seashore Securities Ltd challenging the legality of the OPID Act that empowers the state to initiate punitive action against those embezzling public money by floating shady financial firms and subsequent rules framed on it in 2013.

The court has scheduled the next date of hearing in the matter for August 2.

Dash, who is an accused in the multi-thousand crore chit fund scam is currently lodged in the Jharpada jail.