The Central Bureau of Investigation has filed supplementary chargesheet before the Court of District & Session Judge, Agartala (Tripura) against then Chairman & Director of a private Group of Companies and others including Managing Director/Director of said Group of Companies, two other Directors of said Group of Companies, a private company based at Kolkata, (West Bengal) in a case related to Chit Fund scam. Earlier, a chargesheet was also filed by Tripura Police during January, 2018.
CBI had registered a case against the accused on 18.10.2019. During investigation, it was found 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. It was further alleged that 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 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.
It was also alleged that the accused used to falsely publicise about the high profitability of the Group, contrary to the fact and viability of the business of the company. They appointed large number of agents, one above the other, and induced them to collect deposits by alluring them with high percentage of commissions & incentives, in violation of Companies (Acceptance of Deposits) Rules. Further, they allegedly used to run 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. Business Development Meetings, Seminars and Competitions were allegedly held by the accused Directors of the company with the big agents & investors and in those meetings, they used to deliver motivational speeches to motivate the investors & agents to collect more and more investments. The amounts invested by the investors were allegedly diverted to loss making sister-concerns of the group where the amounts were misappropriated. It was alleged that an amount of Rs. 464,80,06,331/- (approx) was misappropriated.
After investigation, the said chargesheet was filed.