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CBI files additional charge sheet against founder-director of 'Prayag Group of Companies'

The CBI (Central Bureau of Investigation), on Wednesday, filed the additional chargesheet against the founder-director of ‘Prayag Group of Companies’ — Swapna Bakshi over charges of misappropriation of Rs 109 crores in the name of a chit fund.

Prayag Group of Companies

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  2 Dec 2021 1:57 AM GMT

 Rs 109 crores chit-fund scam

STAFF REPORTER

GUWAHATI: The CBI (Central Bureau of Investigation), on Wednesday, filed the additional chargesheet against the founder-director of 'Prayag Group of Companies' — Swapna Bakshi over charges of misappropriation of Rs 109 crores in the name of a chit fund.

The Prayag group of company with its main office in Jorhat mainly operated in upper Assam. It collected crores of money from around 2.28 lakh gullible investors through the following companies managed this group.

These are the 'Prayag Entertainment Private Limited, 'Prayag Organics Private Limited', 'Prayag Aviation Services Private Limited, 'Prayag Hotels & Resorts Private Limited', 'Prayag Fisheries Private Limited', 'Prayag Infotech Private Limited', among others.

According to sources, "The CBI filed the charge sheet in the court of Additional Chief Judicial Magistrate, Kamrup (M), Guwahati (Assam) in a case related to a chit fund scam.

"The CBI had earlier filed a charge sheet in the Court of Special Judicial Magistrate, Kamrup (M), Guwahati on February 26, 2019. It was filed against 16 accused including Basudeb Bakshi — the chairman-cum-managing director (CMD) of the Prayag group of companies, and the managing director of the group — Avik Bakshi among others. The charge sheet was filed on the allegations of misappropriation of approximately Rs 109 crores from around 2,28,104 investors.

Further investigation was continuing to unearth the larger conspiracy, money trail, etc. and the role of other accused.

During the investigation, it was revealed that the accused named in the 'Supplementary Chargesheet' was the first director and a shareholder of the private company.

The mentioned company was renamed on July 10, 2007. The accused named in the supplementary charge sheet was one of the beneficiaries from the private group of companies. Scrutiny of bank statements and forensic audit reports showed that funds from the bank accounts of this group of companies — were diverted to the personal accounts of the CMD and other MDs

Following an order of the Supreme Court of India, the CBI registered the latest case on August 22, 2015, and took over the investigation of the case earlier registered at the Jorhat Police Station. It was against the officials of the Jorhat-based private company.

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