Court orders attachment of 11.07 acre land of Saradha group


Bhubaneswar:  A local court in Balasore on Wednesday ordered State Government to attach properties of Kolkata based Saradha group in connection with the multi-crore chit fund scam.

The Balasore ADJ has asked the government to confiscate a land of 11.07 acre in possession of the Saradha group. The properties are worth of about Rs 4 crore.

Notably, the tainted company had offices and operations in several districts of state mostly in coastal Odisha and was alleged of duping crores of rupees from people on promise of higher returns through ponzi schemes.

Recently investigations into several chit fund scams in connection with the state have been expedited with promulgation of fast track courts for quick hearing of cases that have been lying unheard for last few years.


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