Seashore investes depositors’ money in Govt projects, alleges BJP

Bhubaneswar: Senior BJP leader and  State BJP spokesperson Sameer Mohanty has
alleged that peoples’ deposits with the Seashore group have been used in public
projects by the Government, illegally against the interest of the depositors.
“In a joint venture with the Government the deposited money
were invested in OTDC and health projects of the State. Besides, a major
portion has been spent in the beautification of river bank of Cuttack,” alleged
“The Crime Branch
(CB) has proposed the State government to attach the properties of Seashore
Group for liquidation order under Section 3 of the Odisha Protection of
Interests of Depositors (in Financial Establishments) Act, 2011. Property
documents of the STV Samachar, Soubhagya Drinks, Seashore Dairy Products and
its agreement with OREDA and IDCO for establishment of a solar power plant at
Titilagarh and for setting up of a maize processing unit spreading over
100-acre in Umerkote block of Nabrangpur district along with a list of machineries,
fittings and equipments belonging to Seashore Company have been attached to the
proposal for the consideration but there is no mention of the money invested in
the different Government projects. Besides, from where does the Government
repay the money invested in the public projects,” asked Mohanty.
Similarly, the CDA property, plot no. 11-3B/1332 in
sector-II of Bidanasi project area, bought by Pradeep Sethy was from the money
of the depositors deposited in the AT group of which Sethy was the CMD. So
according to the OPID Act it should be confiscated. But the plot was
transferred in the name of the State Advocate General Ashok Mohanty. It must be
noted that the transferred was made even after an FIR was registered in the
name of Sethy. So, what is the reason of leaving the plot out of the
attachment, questioned Mohanty, adding that under the new Act the plot must be

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