CBI Files Supplementary Chargesheet Against a Private Company and Others Including Its Then Chairman and Directors in A Case Related to Chit Fund Scam
(Judicial Quest News Network)
The Central Bureau of Investigation has filed Supplementary Chargesheet before the District & Sessions Judge, Gomati District (Tripura) against a private company based at Kolkata, West Bengal having its branch office at Amarpur, District-Gomati, Tripura and others including its then Chairman & Director, three then Directors relating to Chit Fund Scam Case.
CBI investigation revealed that the accused had allegedly collected huge public funds amounting Rs.31,49,28,885/- (approx.) in the form of deposits by issuing certificates in the names of Plot or Land bookings from large number of investors in violation of Companies Act & SEBI Regulations. It was further alleged that the accused formed several other companies under the said Kolkata based private company and became the Directors of these companies. The accused diverted the money in the group companies knowingly that these companies were loss making entities and opened several bank accounts in the name of the company, became signatories of these bank accounts and transferred/diverted the fund as per their own interest. Investigation also revealed that the accused used to publicize falsely about the high profitability of the Group, contrary to the facts and viability of the business of the company. They appointed huge number of agents one above the other and induced them to collect deposits by alluring them with high percentage of commission and incentives in violation of Companies(Acceptance of Deposits) Rules. They used to run an illegal Money Circulation Scheme which was banned under Prize Chits and Money Circulation Schemes (Banning) Act. They also induced the investors in investing money in various schemes of the said private company. The amount invested by the investors was diverted to loss making sister concerns of the group. The investors of accused company’s Amarpur Branch,Tripura were cheated through non-refund of their investment and Rs.4,81,19,365/- (approx.) was allegedly misappropriated by the said accused. CBI had registered the case on the Orders of Hon’ble Tripura High Court.
After thorough investigation, CBI has filed the chargesheet.
The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian Law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.
