Seashore case: HC rejects Subhankar's bail plea

Cuttack: The Odisha High Court on Thursday rejected the bail plea of Subhankar Nayak, who has been arrested for his involvement in the Seashore chit fund scam.

The court observed that considering the nature of allegations, granting bail to Subhankar would hamper the investigation into the case against him.

The court, which had rejected the bail plea of Subhankar earlier, said there has been no change in the circumstances to have a relook at his bail appeal.

“Having a prolonged stay in the jail cannot be termed a change in circumstances,” the court said while quoting a verdict of the Supreme Court.