New Delhi, Nov 1 (Agency) The Central Bureau of Investigation (CBI) filed a supplementary chargesheet before the Court of District and Session Judge in Agartala, Tripura against a private company based in Kolkata in chit fund scam, the agency said on Monday. The agency filed supplementary chargesheet against then chairman and director of a private group of companies and others including managing director, director of group of companies, a private company based in Kolkata in a case related to Chit Fund scam. Earlier, a chargesheet was filed by Tripura Police in January, 2018, the CBI said. 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 was misappropriated, the agency statement said.
They allegedly used to run an 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 the 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, the CBI statement said. The agency had registered a case against the accused on October 18, 2019. During investigation, it was found that the accused had allegedly established the company to cheat people and became the directors of the company. The accused directors in conspiracy with others including the accused company had allegedly 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 private group of companies and became the directors of these companies and diverted the money in the group companies knowing that those companies were loss making entities, said CBI. They opened several bank accounts in the name of the company, became signatories of the bank accounts and allegedly transferred and diverted the fund as per their own interest, the agency said. The accused used to falsely publicize about the high profitability of the group, contrary to the fact and viability of the business of the company. They appointed a large number of agents to collect deposits by alluring them with a high percentage of commissions and incentives, in violation of companies (Acceptance of Deposits) Rules.