Bail Plea of Subhankar Nayak rejected in Seashore Scam

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Bhubaneswar, Feb 12: Giving no relief to Subhankar Nayak, the middleman and the real estate broker, the district and session judge court here on Thursday rejected his bail plea in connection with the Seashore chit fund scam.

Nayak was arrested for his alleged links with Seashore Group on Nov 18 following CBI raid at his residence. During the raid, the investigative team had seized several vital documents including the diary that gave a clear picture of the massive irregularities in the public deposits and the involvement of politicians, bureaucrats and businessmen in the scam.

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