HC breather for Seashore Group CMD

Cuttack: The High Court on Wednesday granted anticipatory bail to Seashore group CMD Prashant Dash in connection with the company’s alleged illegal money laundering through its co-operative agencies. The court also asked the group head to appear before the investigating officials before availing bail and co-operate with them in the probe.

Earlier on September 4, the court extended the interim protection granted to Prashant Dash till September 20 and similar relief to Subrat Dash of the group and advance bail to five others.

Crime branch of the state police in July last had seized 26 bank accounts of the group following reports from the Financial Intelligence Unit (FIU) of the Ministry of Finance on February 29.

The report had sought investigation into the allegedly suspicious transactions of the Seashore Securities Limited and Seashore Agricultural Promotion Company Pvt Ltd, the sister units of the Seashore Group and its owner Prashant Kumar Dash.