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AT Group CMD offers to reveal more information in chit scam

Press Trust of India  |  Bhubaneswar 

Fifteen persons arrested in conenction with the Artha Tatwa Group chit fund scam were produced in the CBI-designatd special here.

Special judge P L Satpathy allowed the central investigating agency to take Sagar Kumar Ray, a director of Orisons Group of companies and arrested by on November 18 for his alleged lik with Seashore Group, another chit fund company, on remand for two more days.

He was produced in the after completion of a 13-day remand.

Lauding the ongoing probe into the multi-crore chit fund scam in Odisha, Artha Tatwa Group CMD Pradip Sethy today claimed that he would reveal more on the alleged involvement of a television channel, if taken on remand by the central investigation agency.

"I have given Rs 5.50 crore to OTV for promotional activities. Why this channel will not come under the purview of investigation?" Sethy told reporters while being taken to the court for appearance, even as his allegation was refuted by the TV channel as "baseless, motivated and defamatory."

Sethy, who was arrested last year on the charge of duping investors of crores of rupees, said "is doing divine justice to the people of by conducting a free and fair investigation. I will reveal more information if taken on remand by "

Rejecting the allegation made by Sethy, OTV vice-resident Ratikant Satpathy said in a statement said that "our dealings with AT Group were completely transparent and as per the prevailing operating rates. We have followed all due procedures in receiving and telecasting advertisements from AT group as in the case of any other advertiser."

The amount of advertisement placed by AT group on OTV Network Channels is far smaller than what the arrested accused has mentioned, Satpathy said adding the figure is less than even 1 per cent of our advertisement revenue during the concerned financial years.

"Since OTV has been in the forefront of exposing the chit fund scam, the comments by the arrested accused after so many months appear to be completely motivated," Satpathy said.

Satpathy said the company was contemplating to proceed legally against the "baseless and defamatory" statement made by Sethy.

First Published: Wed, November 26 2014. 23:00 IST