20 March 2017
Bhubaneswar: In pursuance of the Special Vigilance Court’s directive, a three-member team of the Serious Fraud Investigation Office (SFIO) on Monday began interrogating Ponzi firm Seashore Group’s chief Prashant Das, his brother-cum-co-director Pravat along with middleman Subhankar Nayak in Jharpada Special Jail here.
The SFIO’s grilling is in connection with irregularities committed by the Seashore Group’s companies in violation of the company law.
SFIO is a specialised wing under the Union Ministry of Corporate Affairs to deal with such cases.
Seashore Group chief Prasanta Das, his brother Pravat Das and middleman Subhankar Nayak are languishing in judicial custody since long at the Jharpada Special Jail here.
Sources said, the SFIO investigating team has been directed to complete the process and submit its report within one month.
Notably, the SFIO had earlier interrogated ponzi firm Artha Tatwa (AT) Group chief Pradeep Sethi and three other directors of the Group at the Jharpada Special Jail here.
Need to be mentioned that the SFIO is a fraud investigating agency in India. It is under the jurisdiction of the Ministry of Corporate Affairs, Government of India. The SFIO is involved in major fraud probes and is the co-ordinating agency with the Income Tax and CBI.
It is a multi-disciplinary organisation having experts from financial sector, capital market, accountancy, forensic audit, taxation, law, information technology, company law, customs and investigation. These experts have been taken from various organisations like banks, Securities and Exchange Board of India (SEBI), Comptroller and Auditor General (CAG) and concerned organisations and departments of the Union Government.