HC grants advance bail to Seashore Director

-- Interim protection of company CMD extended till Oct 9

CUTTACK: The High Court on Monday granted advanced bails to Seashore Group director Surath Das along with six other company officials in the illegal money circulation case. The court also extended interim protection of company CMD Prashant Das till October 9.

The High Court has not taken any decision in the case on Monday. The court would hold the next hearing on company CMD’s bail plea on October 9 and till that date he would be given interim protection from the court.

The Crime Branch alleged that the company yet to give the details of the investors’ money Rs 333 crore out of the total Rs 506 crore collected from the investors. The court directed the company CMD to give details about the collected money from the investors before the Crime Branch on October 5.   

It may be noted that Economic Offence Wing of the Crime Branch had conducted raids on Seashore Group on July 18 and the police had lodged cases against the CMD and directors of the company for cheating the investors and illegal money circulation. The Crime Branch police had seized 14 bank accounts after the raid on the company.