By Bizodisha Bureau, Bhubaneswar, January 18, 2017 : A specially designated court at Balasore on Wednesday ordered confiscation of properties worth Rs 4 crore of scam-tainted Saradha Chit Fund that include a land to the tune of 13.64 acre.

“The ad interim order of the Odisha government’s Finance department to attach 13.64 acre land belonging to the company has been made absolute by the court today,” informed government lawyer, Sushil Kumar Ray.

Saradha Chit Fund has been accused of duping lakhs of investors in Balasore along with other districts of Odisha with a promise of attractive returns through its various chit-fund schemes.

Earlier on December 30 last year, the Enforcement Directorate (ED) had attached assets of Odisha-based Artha Tatwa group, its managing director Pradip Sethy and others in a chit fund scam.