AT scam: HC grants bail to builder

Cuttack: Orissa High Court today granted bail to builder Sagar Ray, who was arrested by CBI for his alleged links with Artha Tatwa (AT) scam. AT group is one of the major players in the muti-crore chit fund scam in the State.

The court granted him bail on a bank deposit worth Rs 5 crore and asked him to surrender his passport, the report said.

Ray came under CBI lens and also appeared before the investigating agency twice in November last year over his links in the land deals of the AT group and constriction of various apartments in the city.

The realtor is also one of the stakeholders of city-based real estate firm Orison Properties Ltd.