Tuesday, July 14th, 2020

CBI files a chargesheet against then three directors and a private company in an on-going investigation of a chit fund case

downloadINVC NEWS New Delhi, The Central Bureau of Investigation has filed a charge sheet against three then Directors and a private company based at Kolkata U/s 120-B r/w 409 & 420 of IPC & U/s 4 ,5 & 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 and substantive offence thereof in the Court of Special CJM, CBI, Bhubaneswar (Odisha) in an ongoing investigation of a chit fund case. The instant case was registered on 05.06.2014, on the orders of the Hon’ble Supreme Court dated 09.05.2014 passed in Writ Petition No. 413 of 2013 against the Directors of the said private company U/s 420, 120B & 34 of IPC and U/s 4,5 & 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978. It was alleged that the accused persons being the Directors of the company fraudulently induced investors to invest money by promising very high returns and also by advertising false & fabricated business prospects of the company. The accused cheated the investors and misappropriated the money. All the said accused Directors are in judicial custody. Further investigation continues U/s 173 (8) of Cr.P.C. to examine larger conspiracy & money trial. The public is reminded that the above findings are based on the investigation done by CBI and evidence collected by it. Under the Indian law, the accused are presumed to be innocent till their guilt is finally established after a fair trial.



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