Permission for confiscation of property of AT Group sought

Bhubaneswar: The police today sought permission from the Odisha government to confiscate the property of Artha Tatwa (AT) Group which allegedly defrauded over Rs 350 crore from investors in the state capital.

"We have sought permission from the finance department to confiscate properties of AT Group. Required documents relating to the properties to be attached are also submitted," Police Commissioner, Commissionerate of Bhubaneswar-Cuttack R P Sharma told reporters here.

Stating that the property included 122.73 acre of land, 12 bank accounts valued at Rs 2 crore and 11 cars valued at Rs 1 crore, Sharma said that the police estimated to recover Rs 150 crore from auctioning them.

Sharma, said though the company also had land in Puri, Khurda, Balasore and Ganjam district, it was proposed to confiscate property in its jurisdiction.

The police also issued notices to 23 persons who took loan from the AT Group to return them.

The number of persons who took loans, meanwhile, increased to 40 persons.

The AT Group operating 20 organisations allegedly defrauded an estimated Rs 1,000 crore from the people in different districts.