Seashore Director Prabhat Das’ Bail Plea Dismissed by SC


New Delhi/Bhubaneswar: The Supreme Court today dismisses the bail request of Seashore CMD Prashant Das’ sibling Prabhat while coordinating the Central Bureau of Investigation (CBI) to finish the probe with Prabhat before June.

Prabhat was the director of Seashore Securities Ltd, one of the sister concerns of Seashore Group of Companies, and was arrested by the Central probe agency in January last year for his alleged involvement in swindling funds to the tune of Rs 3 crore. He has been charged with criminal conspiracy and financial misappropriation.

The CBI had filed the charge-sheet in the mega scam in Special CBI court on March 7, 20015.The charge-sheet mentioned that Seashore CMD Prashant Dash and his brother Prabhat embezzled about Rs 578.2 crore, collected from investors between 2006 and 2011