Court rejects bail plea of Seashore group CMD

Bhubaneswar: Bail plea of Seashore Group’s chairman and managing director (CMD) Prashant Dash was rejected by the District and Sessions court, Khurda, yesterday.

After hearing the arguments from both the plaintiff and CBI counsel the court rejected the bail plea. Dash’ counsel argued in the court that as his client has been cooperating with the investigating team and lodged in jail for long period, the bail plea should be considered.

On the other hand, CBI advocate told the court that as Dash’ name is mentioned as the main criminal conspirator and fraudster in the chargesheet, he should be granted bail.

Once he would be out of jail, there were chances that Dash might influence witness and destroy evidence, the CBI counsel added.

Dash had applied for the bail after the Central Bureau of Investigation (CBI) filed a chargesheet against the Seashore CMD in connection with multi-crore chit fund scam.