But the IO has written to the Advocate General stating that Prashant Dash is concealing facts, not giving details of his financial transactions and he is not cooperating with investigations. Advocate Sibashish Mishra, who appeared for the Odisha Government, told the Supreme Court that as Prashant Dash is not cooperating, the custodial interrogation of the accused has become necessary and hence, the High Court order should be stayed and his bail should be cancelled.
The High Court had accepted the bail plea filed by Dash on October 17, 2012. The Crime Branch had conducted raids in many branches of Seashore Company on July 18, 2012 after allegations of financial irregularities surfaced against the company. Case was registered by the Economic Offences Wing of the Crime Branch against CMD Prashant Dash and 7 other people.