Cuttack: The Seashore Group, which has duped investors of over `500 crore, has allegedly transferred `75 lakh to the bank account of the district administration here.
The shocking financial transactions between the chit fund company and the district administration came to light after the CBI, probing the multi-crore chit fund scam in the state, recently wrote to the district administration.
The letter undersigned by CBI inspector SK Samal reached the District Land Acquisition Office May 7. In the letter, the CBI asked the district administration to furnish documents as to why the sum was transferred to its bank account and what favour the ponzi firm received in return.
While the CBI letter caused quite a flutter, a detailed inquiry was reportedly conducted at the district collector’s office throughout Thursday. Meanwhile, some highly placed sources said some vital documents about the financial transactions have been sent to the CBI office.
Asked, collector-in-charge Raghuram R Iyar said he did not have any information about it. He also feigned ignorance about the CBI letter.
According to the CBI letter, the financial transactions were made between November 9, 2012 and December 21, 2012. The amount was transferred to the District Land Acquisition Office’s bank account (06880100013012) in Bank of Baroda’s Bhubaneswar branch from Seashore’s Tamilnad Mercantile Bank account (214150050800301) through real-time gross settlement (RTGS) system.
The CBI, in the letter, asked the district administration to submit a report mentioning the purpose of the financial transactions.
According to sources, the link between Seashore, Cuttack district administration and Cuttack Municipal Corporation (CMC) is not a new phenomenon. The chit fund firm had set up Nauka Vihar on the bank of Mahanadi. Besides, CMC allegedly got the beautification works of the city done by the ponzi firm. Earlier, the CBI had collected vital documents from the CMC office in this regard.
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