Odisha chit fund scam: Court reserves verdict on Pradeep Sethy’s bail again

Reported by Santosh Jagdev
Bhubaneswar, Dec 4:

The Khurda district and sessions court today reserved its verdict on the bail petition of Pradeep Sethy, head of the AT Group of companies, a key player in the Odisha chit fund scam, for tomorrow.

Pradip Sethy
Pradip Sethy

This is the second time the decision on Sethy’s bail petition has been reserved. On November 27, the court had posted today as the date for the verdict after completing hearing on the bail petition of Sethy .

The same day, the court had also deferred its verdict on the bail petition of Deepak Chandraratan Parekh, the Mumbai stock broker arrested by the CBI for his links with the AT group, till December 8.

According to CBI sources Parekh, who was associated with a stock trading company named Yash Trading and Finance Limited earlier, became the director of Artha Tatwa Capital Limited (ATCL) on May 5, 2009.

The ATCL was listed at the Bombay Stock Exchange. Parekh used to invest AT Group’s money in the stock market. Parekh had allegedly obtained license from SEBI and MCX for AT Group.

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