The District and Sessions Court judge D P Choudhury accepted ED's petition and allowed the investigating agency to take Dash to remand. Dash's lawyer, however, did not oppose the ED's petition.
"My client would cooperate with the ED to do its investigation. Therefore, we did not oppose the remand application," Dash's lawyer B Kar told reporters here.
Dash who arrived at the court premises from Koraput this morning was later taken to Jharpada Jail from there. The ED would take him on remand from tomorrow.
While the crime branch of Odisha police had already seized and located Dash's properties worth above Rs 200 crore, there was no trace of another Rs 400 crore allegedly being taken from investors.
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"The ED would probe into the money trail of remaining Rs 400 crore," an official said, adding that the ED earlier had moved the Khurda District and Sessions court on September 19 seeking Dash's remand.
On September 26, the CBI had raided eight premises of Seashore in Dhenkanal and Balasore districts to collect evidence against the group. The CBI had also raided 29 places, including the houses Prashant Dash at Jharpada in Bhubaneswar.
About 6.5 lakh people were duped of Rs 4,375 crore between January 2012 and June 2013 by several chit fund companies, and the Seashore Group alone is accused of swindling over Rs 700 crore from the deposits collected from thousands of people across the state.