CBI Nabs Fugitive Businessman in Kolkata for Multi-Crore Scam in Assam
(Judicial Quest News Network)
Kolkata/Guwahati, July 30: In a major breakthrough, the Central Bureau of Investigation (CBI) on Tuesday arrested long-time absconder Ajay Kumar alias Raju Gupta, former Director of the Idol India Group of Companies, in connection with a massive financial fraud case in Assam.
Ajay Kumar, who had been evading arrest for several years, was finally tracked down and apprehended by a CBI team in Kolkata after sustained surveillance and investigation efforts.
The case originates from a 2013 notification by the Government of Assam and a subsequent order by the Supreme Court in 2014, directing the CBI to probe allegations that the directors of Idol India operated dubious investment schemes under names such as Idol India Infrastructure Ltd., Idol India Debenture Trust, and Idol India Projects Ltd. The company allegedly collected crores of rupees from unsuspecting investors in Assam, luring them with promises of high returns, and then misappropriated the funds.
Following its investigation, the CBI filed a chargesheet on December 22, 2022, against Ajay Kumar and other accused under various sections of the IPC (120B, 406, 409, 420) and the Prize Chits and Money Circulation Schemes (Banning) Act.
Despite being charge sheeted, Ajay Kumar had been on the run for years. The CBI’s persistent efforts to trace his location culminated in his arrest in North 24 Parganas, West Bengal.
He was produced before the Chief Judicial Magistrate at Barasat, who granted transit remand for his transfer to Assam. Ajay Kumar will be presented today before the Special CBI Court in Guwahati.
