The Central Bureau of Investigation (CBI) on Monday filed a supplementary charge sheet before the Court of District and Session Judge in Agartala’s Tripura. The charge sheet has been filed against the Chairman and Director of a private group of companies and others including Managing Director of the said group of companies and two other directors of the said Kolkata based private company in a Chit Fund Scam.
In a press release by the CBI, an earlier charge sheet in the case filed by Tripura Police in January 2018 was also mentioned. CBI had registered a case against the accused on 18 October 2019. It also mentions that it was found during investigation that the accused, in conspiracy with each other & also with the intention to cheat, had allegedly established the company and became the Directors of the said company. Further, the accused Directors in conspiracy with others including the accused company had collected huge public funds in the form of deposits by issuing Certificates in the name of booking rooms in Hotels to huge number of investors in violation of Companies Act and SEBI (CIS) Regulations.
The accused had allegedly formed several other companies under the said Private Group of Companies & became the Directors of these companies and diverted the money in the group companies knowing that those companies were loss making entities. They opened several bank accounts in the name of the company, became signatories of these bank accounts and allegedly transferred/diverted the fund as per their own interest.
They allegedly appointed large number of agents and involved them in collecting deposits by alluring customers with high percentages of commissions and incentives, in violation of Companies (Acceptance of Deposits) Rules. They also were involved in falsely publicizing about high profitability of the group. They also ran illegal Money Circulation Scheme which was banned under Prize Chits and Money Circulation Schemes (Banning) Act.
The accused also induced the investors in investing money in various schemes of said company by offering high percentage of returns in violation of Companies (Acceptance of Deposits) Rules.
They allegedly held Business Development Meetings, Seminars and Competitions with big agents and investors they gave motivational speeches to collect more investments. Amounts to the tune of Rs. 464,80,06,331/- (approx) were misappropriated and directed to sister companies as well.
After thorough investigation, CBI has filed the charge sheet in the case.