STOCK MARKET BSE NSE

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.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp