Bhubaneswar, June 14: The crime branch of Odisha police today sealed one flat at Satikhetra apartments belonging to the managing director of sham deposit collection company Seashore Group.

Another flat in the complex will be sealed after its tenant vacates it. An official said these two flats, located on the ground floor of Satikhetra apartments in Sriram Nagar of Old Town, were in the name of Prashant Dash, the managing director of Seashore Securities Limited.

“Both flats, with a base area of 3,062 square feet, had been bought in 2009 at an approximate cost of Rs 65 lakh. Going by current market rates, its present value would be around Rs 1 crore,” said an official.

A team of crime branch officials sealed one of these flats, where no one was staying and also served a notice on the family that was residing in the other facility.

They were asked to leave the house by the end of this month. Sources said earlier employees of Seashore Securities were residing in the sealed house and they had left two months ago.

The family residing in the other flat said they have been staying in that house for the past seven months and this morning they were told by crime branch officials to vacate the house as soon as possible. “We are from Puri and came to Bhubaneswar as my 70-year-old husband has been suffering from kidney dysfunction and required regular dialysis. We are seeing doctors here at a private hospital. We will move to another house soon. This morning we came to know about the police raid and seizure,” said a 65-year-old woman, who did not want to be named.

Officials said that after the family vacated the house they would seal it before the owners attempted to sell it.

“We have told the tenants of the house to inform us when they leave so that we can take action immediately,” said a raiding officer.

In July last year, the crime branch had registered a case against Seashore Group based on a number of complaints of money circulation and laundering by the company. Crime branch officials said Seashore had duped investors of over Rs 1,500 crore.

The economic offences wing had earlier sealed several offices of the company.

“We are verifying the documents of the company and whenever we come across any property belonging to the company or its officials we seize the assets,” said an economic offences wing official.