Balasore, June 28: The sub-divisional judicial magistrate court here today allowed police to take the chairman-cum-managing director of Artha Tatwa (AT) Group, a fraud deposit collection company, in a two-day remand from tomorrow.

Sahadevkhunta police will quiz AT group chief Pradeep Sethy in connection with duping investors of crores of rupees. The investors had alleged that the “multipurpose co-operative society” has embezzled nearly Rs 15 crore through its Balasore office.

“We will interrogate Sethy regarding the company’s schemes and investment policy,” said inspector in charge of Sahadevkhunta police station Manoj Rout. In a related development, the CMD of another deposit collection company, Mid East, was taken in a three-day remand. “The court has granted our prayer for taking Debesh Nayak on remand. His company has committed a fraud of nearly Rs 3 crore in Balasore and Bhadrak,” said inspector in charge of Town police station Umesh Chandra Gadnaik.