Bhubaneswar: The Supreme Court on Tuesday granted bail to Pravat Dash, one of the directors of Seashore Group of Companies and an accused in the chit fund scam in Odisha.
Pravat, brother of Seashore Group’s chief managing director Prashant Dash, was arrested by the Central Bureau of Investigation (CBI) earlier on January 24, 2015, for his alleged links in the multi-crore scam.
Following his arrest, he had moved the apex court seeking relief. He is accused of embezzling Rs 3 crore, which was allegedly transferred to his account from that of Seashore Group’s.
Pravat was also the director of around 15 other ventures, including Seashore Securities Ltd that had collected money from investors from across the state assuring them of high returns
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