Seashore Group office sealed, Artha Tatwa chief in custody

BHUBANESWAR: Continuing its action against chitfund companies and others duping investors, police today sealed the corporate office of Seashore Group and took Artha Tatwa group chief Pradip Sethi to its custody for four days.


The Crime Branch failed to arrest Seashore Group chief Prashant Das, who obtained an anticipatory bail from the Orissa High Court, but sealed its corporate office and seized certain documents and computers, said Crime Branch DIG Rajesh Kumar, who is looking after the economic offence wing.

The company, according to an official estimation, raised about Rs 900 crore from Odisha market by luring investors with interest of about 24 per cent. The Crime Branch of police have meanwhile written the Register of Companies to cancel licence of Seashore Group.

Meanwhile, police took Artha Tatwa chief Pradip Sethi to its custody till May 22.

Sethi's police remand was significant as he had allegedly given bribe to certain politicians in the state in order to operate his business smoothly.