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CBI apprehends  former deputy registrar of companies along with 3 others in chit fund scam case

CBI detained the then-deputy registrar of companies in Kolkata, along with three other people, including the founder director and the territorial manager of private firms, in a chit fund scam.

By wasmulhaq 
Updated Date

Kolkata: The Central Bureau of Investigation (CBI) detained the then-deputy registrar of companies in Kolkata, along with three other people, including the founder director and the territorial manager of private firms, during the continuing investigation of a case involving a chit fund scam.

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On May 9, 2014, the CBI filed the instant case against the then-MD of a private company and others in accordance with the Supreme Court’s directives.

It was claimed that the accused had illegally collected public deposits throughout Odisha to entice people  alluring them with various schemes and falsely promising high returns. They defrauded the investors of their owed money by failing to refund the maturity amount. The company collected roughly Rs 565 crore in total.

In this case, two charge sheets were filed between November 2016 and November 2021. Further investigation has been continued to look into the bigger conspiracy. The money trail and the involvement of the regulatory bodies were all the subject of additional scrutiny.

After additional inquiry, it was discovered that the accused had allegedly been involved in illicit Ponzi schemes and had profited greatly from the illegally collected deposits. The then Deputy Registrar of Companies, Kolkata, had allegedly facilitated the unlawful deposit collection business. It was made possible by the then-Deputy Registrar of Companies in Kolkata.

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The arrested accused were Lakshman Srinivasan, then founding director of Finshore Management Services, Uttam Munshi, former territory manager of Star Health Insurance; Subha Kumar Banerjee, the deputy registrar of companies, Kolkata; and Pranab Mukherjee, the MD of Infinity Realcon.

 

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