Seashore scam: SC grants bail to director Pravat Dash

Sambad English Bureau Published On : Jul 11, 2017 at 12:36 PM Updated On : Jul 12, 2017 at 10:12 AM

Bhubaneswar: The Supreme Court (SC) today granted bail to Pravat Kumar Dash, one of the directors of Seashore Group of Companies and accused in the chit fund scam in Odisha.

Pravat, brother of Seashore Group CMD Prashant Dash, was arrested by CBI on January 24, 2015 following marathon interrogation at the headquarters of the central agency here.

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He had then moved the apex court seeking relief.

Dash is accused of embezzling funds to the tune of Rs 3 crore. He was director of as many as 15 ventures of the Seashore Group of Companies including Seashore Securities Ltd, which had collected investments from investors from across the state assuring them of high returns.