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The Central Bureau of Investigation (CBI) has arrested then Deputy Registrar of Companies, Kolkata and three others in a case related to chit fund.
CBI had registered the instant case in compliance with the Supreme Court order dated May 9, 2014 against then MD of a private company and others and taken over the investigation of case, earlier registered at Baliapal Police Station in Balasore (Odisha).
According to CBI, it was alleged that the accused illegally collected public deposits throughout Odisha by alluring the public with various deposit schemes falsely promising high returns and did not refund the maturity amount and thereby cheating the investors of their due amount. The total collection of the company was about Rs 565 crore.
In this case, two chargesheets were filed before the Special CJM, CBI cases, Bhubaneswar. Further investigation was conducted to look into the larger conspiracy, money trail and roles of regulatory authorities.During further investigation, it was revealed that the accused had allegedly associated themselves with the illegal ponzi schemes and received huge pecuniary benefits for themselves out of the illegally collected deposits by the said private company.
CBI said the then Deputy Registrar of Companies, Kolkata had allegedly facilitated the illegal deposit collection business of said FIR named private company, abusing his official position.
All the arrested accused Lakshman Srinivasan, then Founding Director of M/s Finshore Management Services Ltd, Swapan Kumar De and Uttam Munshi, then Territory Manager of M/s Star Health Insurance, Subha Kumar Banerjee, then Deputy Registrar of Companies, Kolkata were presented before the court.
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