Artha Tatwa CMD Pradip Sethi taken on remand

Bhubaneswar: Controversial non-banking financial institution Artha Tatwa (AT) group CMD Pradip Sethi, who was arrested on May 12 for cheating investors was taken on 4-day remand by Commissionerate Police from May 18-22 for more interrogation.
 
The police had launched an operation to nab him after complaints were piled up against the company. A retired DIG of police who invested Rs 18 lakh in AT Group, had lodged a complaint at Kharavela Nagar Police Station on February 6 acting on which police registered a FIR against Sethi.
 
Before being whisked away by the police, Sethi had told reporters that AT group had taken help of certain politicians and other influential persons.
Preliminary investigation had revealed that Sethi's AT group has allegedly duped investors to the tune of Rs 130 crore.
 
Meanwhile, the state's crime branch on Saturday sealed the headquarter of Seashore Group here and seized certain documents and computers, said Crime Branch DIG Rajesh Kumar, who is looking after the economic offence wing. 
 
The chairman of the group Prashant Das has yet not been arrested as he had obtained an anticipatory bail from the Orissa High Court, Kumar added.
 
The company, according to an official estimation, raised about Rs 900 crore from Odisha market by luring investors with interest of about 24 per cent. The Crime Branch of police have written to the Register of Companies to cancel licence of Seashore Group.