Chit fund case: CBI files supplementary chargesheet against ex MD, directors of private group of companies
Aug 12, 2022
New Delhi [India], August 12 : The Central Bureau of Investigation (CBI) has filed a supplementary chargesheet against the former managing director and directors of a private group of companies in a chit fund case.
The CBI has filed the second supplementary chargesheet relating to a chit fund case before the court of Additional Chief Judicial Magistrate, Kamrup (M), Guwahati (Assam) against the then managing director and three former directors of a private group of companies, CBI said in a press release.
On January 19, 2016, the CBI registered the instant case on the request of the Assam government and took over the investigation earlier registered at Police Station Barpeta (Assam).
The Assam Police had also submitted a chargesheet in the instant case, CBI said.
During further investigation, it was found that the accused in conspiracy with each other and with the intention to cheat, established a company and became the directors thereof.
It was further alleged that the accused collected huge public funds from Assam's Barpeta in the form of deposits by issuing certificates in the name of booking rooms in hotels, to investors, in violation of the Companies Act and SEBI (CIS) Regulations.
It was also alleged that the accused misappropriated/converted the investors' money to the tune of Rs 23,87,76,140 (approx) for their personal use.
CBI submitted the first supplementary charge sheet in the instant case on December 17, 2018, against four accused including directors and three accused companies.
The investigation is continuing.
