CBI Arrests Two Absconding Directors of a Private Company In An On-Going Investigation Of A Case.

(Judicial Quest News Network)

The Central Bureau of Investigation has arrested two Directors of a private company (a Chit Fund Company) based at Asansol District Burdwan (West Bengal) from their hideout at Gomti Nagar, Lucknow (Uttar Pradesh) who were absconding since the registration of CBI case.

          CBI had registered the instant case on 15.09.2017 on the orders of the High Court of Jharkhand and taken over the investigation of FIR no. 416/2014, earlier registered at Police Station Mihijam, District Jamtara (Jharkhand). It was alleged that the accused had entered into a conspiracy with other Directors of the company and in pursuance thereof, the accused induced the common public with the promise of unrealistically high return of their investments claiming that the company was authorized for doing so by the statuary bodies viz. RBI, ROC and SEBI. It was further alleged that the victims, so induced, were made to part with their money by way of investing in the various deposit schemes of the company.  The said Directors thereafter fled away without making payment of the maturity amount.

          Both the arrested accused were produced before the Competent Court and were remanded to Judicial custody.