Chit fund scam: Court orders confiscation & sale of Astha International’s properties

Cuttack: The special court on chit fund today ordered confiscation of properties of scam-tainted chit fund company Astha International. According to court’s order movable and immovable properties of Astha International worth Rs 7 crore will be confiscated and later sold.

According to sources, the properties include a building in Bhubaneswar, land worth 43 acre in Odisha and West Bengal, cash in different bank accounts and a Mercedes car.

Hearing the petition of a specially empowered officer and Cuttack Additional District Magistrate, the court issued these orders.

These properties were earlier seized by the CBI officials and as per court orders these will be sold off in a public auction and the proceeds will be returned to the investors.

Notably, the court has earlier ordered sale of properties of chit fund firms Rose Valley and Safex Infra.