Seashore case: HC grants conditional bail to Subhankar Nayak

KalingaTV News Network

Seashore chit fund: Orissa HC grants conditional bail to Subhankar Nayak Cuttack: The Orissa High Court granted conditional bail to real estate broker and fixer Subhankar Nayak in the Seashore chit fund scam on Tuesday.

The court has directed him to furnish two sureties of Rs 2 lakh each and either Rs 5 lakh cash or property surety.

This apart, the Court has also barred Nayak from visiting outside the state and influencing witnesses in the case.

Moreover, Subhankar, who was a conduit between the blacklisted Seashore Ponzi firm and political leaders, bureaucrats and police officers of the state, has also been asked to cooperate in the investigation process.

Subhankar was arrested by the CBI on November 18, 2014  for his alleged links with the blacklisted  Ponzi firm.

The Central investigation agency had raided his his house in Chandrama Apartments in Bhubaneswar.

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