CBI FILES TWO SUPPLEMENTARY CHARGESHEETS IN SEPARATE CASES RELATED TO CHIT FUND


 

Press Release
New Delhi, 18.09.2020

The Central Bureau of Investigation has today filed two supplementary chargesheets in separate cases related to chit fund in the Court of Special CJM, CBI Cases, Bhubaneswar (Odisha).

In the first case, a supplementary chargesheet has been filed against 25 accused including Promoter & Director of Delhi based private company and others including officials of sister companies on the allegations of misappropriation of the amount collected from the gullible public.

CBI had registered the case on 05.06.2014 U/s 120 B, 420 of IPC and section 4 5 & 6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 on the orders dated 09.05.2014 of the Hon'ble Supreme Court of India passed in Writ Petition (Civil) No. 401 of 2013 and Writ Petition (Civil) No. 413 of 2013 and took up the investigation of the case, earlier registered at Kaniha Police Station, District-Angul (Odisha) against a private Group of Companies based at Delhi. It was alleged that officials of said Group of Companies based at Delhi allured depositors with false promise of paying high rate of interest against their deposits but had cheated the public by running money circulation scheme without authorization. The total amount collected from the public was Rs. 862 crore (approx.). A chargesheet was earlier filed on 11.06.2019 before the Special CJM, CBI Cases, Bhubaneswar and further investigation was continuing.

In the second case, a supplementary chargesheet has been filed against a private company based at Paschim Vihar, New Delhi and two others including its Director. CBI had registered the case on 05.06.2014 U/s. 420, 406 of IPC and section 66 of IT Act on the orders dated 09.05.2014 of the Hon'ble Supreme Court of India passed in Writ Petition (Civil) No. 401 of 2013 & Writ Petition (Civil) No. 413 of 2013 and taken over the investigation of the case, earlier registered at EOW Bhubaneswar (Odisha). It was alleged that a private company based at Paschim Vihar, Delhi was a money circulation networking company having its website “abcindya.com” & information website “info@abcindya.com” and the said company allured depositors by offering lucrative returns & collected huge money from the public without having authorization from the competent authorities, and cheated them. It was further alleged that the accused during the period 2006-10, in conspiracy with each other, had unauthorisedly collected deposits from investors to the tune of Rs. 63,72,95,454/- (approx.) from different places in India. It was also alleged that these deposits were collected in the schemes of the company in the garb of providing online games with false promises of high returns and without having any authority from Reserve Bank of India or from SEBI to collect deposits from the public. Out of this, an amount of Rs.13,49,83,951/- (approx.) was collected from investors of Odisha. In pursuance to the said conspiracy, the accused did not return the said amount and thereby cheated the investors & also misappropriated huge amounts. Earlier, a chargesheet was filed on 30.04.2019 and further investigation was continuing.

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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