Bhubaneswar: The Special Vigilance Court has directed the Serious Fraud Investigation Office (SFIO), a specialised wing under Union Ministry of Corporate Affairs to interrogate Ponzi firm Seashore Group’s chief and its other directors in connection with irregularities committed by the Group’s companies in violation of the company law.
Seashore Group chief Prasanta Das, his brother and co-director Pravat Das and middleman Subhankar Nayak, who are presently confined in judicial custody at the Jharpara Special Jail here, will be interrogated by a special team of SFIO in the first phase, sources revealed.
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The Investigating team of the SFIO has been directed to complete the interrogation of the accused and submit its report within one month, sources added.
“The Ministry of Corporate Affairs through a special notification has asked the Serious Fraud Investigation Office to mainly investigate frauds committed by Seashore in violation of the provisions of the Companies Act,” SFIO’s counsel Gyanaloka Mohanty said.
Notably, the SFIO had earlier interrogated ponzi firm Artha Tatwa (AT) Group chief Pradeep Sethi and three other directors of the Group at the Jharpara Special Jail here.