Chit Fund Scam: ED attaches Seashore Property worth Rs 84 Crore


Bhubaneswar, Jan 09: In an ongoing probe into the mega chit fund scam in Odisha, the Enforcement Directorate (ED) on Friday attached the property of Seashore Group, a chit fund firm, worth around Rs 84 crore for the second time.

The ED seized the property that included the land and building of Bhubaneswar Institute of Technology (BIT) here in which Seashore had invested almost Rs 9 crore.

Among the other assets seized today were multiple pieces of land scattered over Angul, Sambalpur and Bolangir districts cumulatively worth about Rs 73 crore and a roller mill in Cuttack. The ED also attached a bank account of the company with Rs 3.25 crore.

Earlier, the ED had attached property worth about Rs 158 crore of Seashore On December 3, 2014.

More Articles