Rs 84 Crore Seashore Assets attached by ED

In a significant development, the Enforcement Directorate (ED) has attached the assets worth Rs 84 crore of Seashore Group of Companies in connection with multi-crore chit fund scam. Along with AT Group, Seashore was one of the most notorious firms that duped lakhs of investors in Odisha.

The property attached by the ED, included the land and building of Bhubaneswar Institute of Technology (BIT) where Seashore had invested around Rs 9 crore. Apart from these, the ED also seized land pieces in Angul, Sambalpur and Bolangir districts and a roller mill in Cuttack worth Rs 73 crore.

In addition, a bank account of Seashore with Rs 3.25 crore funds, has been attached by the ED. The ED had earlier attached properties worth Rs 158 crore of Seashore Group of Companies on December 3, 2014.