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SC grants bail to Seashore director Pravat Das

Pravat Dash

New Delhi: The Supreme Court (SC) on Tuesday granted bail to Pravat Dash, one of the directors of Seashore Group of Companies, who is the accused of chit fund scam in Odisha.

Pravat Dash, brother of Seashore group CMD Prasant Dash was arrested by CBI on January 24, 2015, for his alleged link to the chit fund scam.

Pravat had then moved the Supreme Court seeking relief.

As per sources, he is accused of embezzling about Rs 3 crore which was transferred to his account. He is the director of Seashore Securities Ltd which had collected money from investors in the state assuring them of high returns.

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