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Kolkata: Former deputy registrar of companies among 4 arrested by CBI in Rs 565-crore chit fund case

The CBI had registered the case in compliance of orders of the Supreme Court in 2014 against the then managing director of a private company and others, and took over the investigation in the matter which had been registered in Balasore district of Odisha, he said on Tuesday.

Kolkata: Former deputy registrar of companies among 4 arrested by CBI in Rs 565-crore chit fund case
The agency said it has arrested Subha Kumar Banerjee, then deputy registrar of companies in Kolkata, Lakshman Srinivasan, then founding director of a company, and two others. (Photo source: PTI)

The Central Bureau of Investigation has arrested a former deputy registrar of companies in Kolkata and three others in connection with its probe into a chit fund scam, an official of the agency said. Among those arrested are a founding director and two territory managers of private companies, he said.

The CBI had registered the case in compliance of orders of the Supreme Court in 2014 against the then managing director of a private company and others, and took over the investigation in the matter which had been registered in Balasore district of Odisha, he said on Tuesday.

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The agency said it has arrested Subha Kumar Banerjee, then deputy registrar of companies in Kolkata, Lakshman Srinivasan, then founding director of a company, and two others. It is alleged that deposits to the tune of Rs 565 crore were illegally collected in Odisha by alluring people, promising high returns, but the maturity amount was not repaid.

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The four arrested had allegedly associated with the ponzi scheme and received pecuniary benefits, a statement said. The then deputy registrar of companies had allegedly facilitated the illegal deposit collection business of Infinity Realcon Ltd and its managing director Pranab Mukherjee, it added.

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