Odisha police moves to bring Sudipta Sen on remand

The Crime Branch of Odisha police today sealed offices and a farm house of Seashore Group in the state while initiating process to bring Saradha Group CMD Sudipta Sen and company's director Debajani Mukherjee on remand,official sources said.
With the Odisha-based Seashore emerging as the major chitfund company which allegedly raised about Rs 1,000 crore from gullible investors across the state, Crime Branch sealed company's offices at Cuttack and a farm house in Angul district. A cold storage owned by Seashore Group was also sealed by the police.
"The police seals offices, movable and immovable properties of Seashore Group keeping in view the interest of investors who have been demanding return of their money. The properties can be sold to generate money to be distributed among the investors," ADG, Crime Branch, B K Sharma told reporters.

Meanwhile, Crime Branch has initiated process of bringing Saradha Group CMD Sudipta Sen and company's director Debajani Mukherjee into remand for their alleged involvement in cheating of thousands of innocent people in the state.
"Production warrant required for remand has been issued by Balasore court. This has been submitted before the Chief Judicial Magistrate at Salt Lake in Kolkata," Sharma said.
The CB officials have also submitted an application to the authorities of Dum Dum jail where Sen has been lodged, he said adding that Sen and Mukherjee's presence are required as cases against them are pending here.

The Saradha group CMD was taken to Dum Dum jail till June 3. Sharma was hopeful of bringing Sen on remand in June after Kolkata police completes its interrogation.

The Crime Branch of police had earlier on May 4 sealed the office of Saradha Group at Balasore in the presence of the Magistrate after seizing some documents. Saradha Group's Puri office was also searched, sources said.
According to preliminary estimates, the loss from the Saradha Group scam is about Rs 70 crore in Odisha.
Meanwhile, people in northern Odisha districts of Balasore and Bhadrak continue to protest demanding return of their money.
Meanwhile, an agent of Seashore Group in Balasore district allegedly committed suicide as he was unable to manage pressure from investors.