4 senior executives of ashore arrested

Published: 04th August 2012 09:34 AM  |   Last Updated: 04th August 2012 09:34 AM   |  A+A-

The Crime Branch on Friday arrested four senior executives of Ashore Group of Companies. They have been produced in the court and remanded in judicial custody.

The arrested are managing director Viresh Kumar Choudhury (35) of Himachal Pradesh, CEO-cum-director Deepak Kumar Pothal (34), regional head and administrative officer Bhagaban Prasad Nayak (54) and operation executive Ramananda Patra (30), all belonging to Balasore.

The CB had raided several offices of the company in Balasore and Bhubaneswar on Thursday and seized documents pertaining to its business.

Additional Director-General Police (Crime Branch) BK Sharma said they have been arrested on charges of duping people on  false promise.

“Investigations revealed that the company was neither a listed company with Reserve Bank of India as a non-banking financial company nor any stock exchange,” he added.

The company MD has, however, refuted the allegation. Choudhury told reporters that his company was doing legal business and repaying depositors as per its commitment.


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