Odisha CM to take up the issue of Prez assent to Bill

Odisha Chief Minister Naveen Patnaik today said he would take up the issue of early presidential assent to the bill for protection of depositors' interest with Union Home Minister Sushil Kumar Shinde .
"I will certainly take up the matter with the union home minister, the issue relating to early presidential assent to Odisha Protection of Interests of Depositors (in financial institutions) Bill, 2011," Patnaik told reporters before leaving on a five-day tour to Delhi.
The state can confiscate properties of ponzi companies after the bill gets President's ascent, official sources said.
Meanwhile, the Crime Branch of Odisha police sealed a 22-acre land at Barala village in Puri district on which the ponzi scheme company Seashore Group had set up a farm house.

The sprawling farm house has above 500 coconut trees and 10 ponds, said Crime Branch DIG Rajesh Kumar adding, the local tehsildar was present when the investigating team sealed the property.
"The land could fetch a good amount for the depositors," Kumar said adding that the Crime Branch had earlier sealed at least four other major immovable properties of Seashore Group.

The police said it had detected 234 acres in possession of Artha Tatwa, the ponzi company which is also under the scanner. Of the 234 acres, 118 acres were located in Khurda district.
"We have been detecting movable and immovable properties of AT Group which will help the government to return money to the depositors, Deputy Commissioner of Police Nitinjit Singh said.

Notices have been sent to 22 people after getting clues of their links with the AT Group, the police added.