Chit fund scam: HC grants bail to BJD MLA Pravat Biswal

Cuttack: In a big relief to arrested BJD MLA Pravat Biswal, the Orissa High Court today granted him interim bail in connection with his links in the Seashore chit fund scam case.

The Court granted a two-month interim bail to the Cuttack Chowdwar legislator who was arrested by the Central Bureau of Investigation (CBI) on September 19, last year.

The CBI had arrested the three-time MLA in connection with a dubious land deal worth Rs 25 lakh with Seashore Group chief Prasant Dash.

It is alleged that Biswal had struck a controversial land deal worth Rs 25 lakh with Seashore group in his home district of Jajpur and camouflaged it as a genuine business transaction through his wife Laxmibilasini’s account.

Seashore chit fund is accused of duping investors to the tune of Rs 1,000 crore by promising high returns.

The Central probe agency has already filed two charge-sheets naming the MLA and five others including his wife, brother Arta Ranjan Biswal and lawyer Anup Senapati.