Bhubaneswar, May 9: Police today submitted a proposal to the state government for attachment of all property belonging to Artha Tatwa group, a deposit mobilisation company that has allegedly duped investors of crores of rupees.
The second interim proposal submitted today included 107 acres of company land in various districts in Sambalpur, Jagatsinghpur, Ganjam and Khurda. Of the 107 acres, 64 acres are in prime locations of Bhubaneswar.
The list of property also has seven houses, including five duplexes, in Bhubaneswar. The police have also found 46 flats in the name of the company, including 32 in Calcutta. The police said the total market value of the property to be attached in the second phase would be around Rs 200 crore.
On January 28, the police had submitted their first interim proposal to the state finance department for property attachment of the company. The proposal included attachment of property worth more than Rs 150 crore. It included more than 122 acres located in various parts of Cuttack, Bhubaneswar and Pipili in Puri district.
The proposal also included attachment of Rs 2.17 crore in cash that was kept in various bank accounts and 11 vehicles worth more than Rs 1 crore.
Though the Supreme Court today ordered a CBI inquiry into the swindling of over Rs 50,000 crore by 44 deposit collection companies, including Artha Tatwa, the police said that they would continue their separate investigation into the money laundering case.
Out of the 26 cases registered in various parts of the state against Artha Tatwa group, the city police had registered two.
Kharavela Nagar police had arrested the chairman-cum-managing director of the group, Pradeep Sethy, on May 12, 2013, and had nabbed six other functionaries of the company afterwards.
“We will continue our investigation till the CBI takes over the case from us. We are also trying to submit another proposal for property attachment,” said police commissioner R.P. Sharma.
In July last year, the police had filed a preliminary charge sheet in a trial court in Bhubaneswar against Pradeep Sethy and six others of his company.
