CBI files case against two other firms in Saradha scam
Admin | 29 November, 2014 | 1058 | 3980
Kolkata: The Cental Bureau of Investigation (CBI), which is probing the multi-crore rupee Saradha scam, Friday registered cases against two non-Saradha companies and their directors for various offences including cheating and conspiracy, an official said.
"The CBI has registered cases against Ramel Industries and Annex Infrastructure in pursuance of the Supreme Court order dated May 9. Cases have been registered against directors of these companies on the allegation of criminal breach of trust, cheating, criminal conspiracy and violation of Prize Chit Money Circulation Scheme Banning Act," an agency official told IANS.
Having found guilty of operating Collective Investment Schemes (CIS) without obtaining its approval, market regulator Securities and Exchange Board of India (SEBI) in July had asked Ramel Industries to immediately wind down its scheme that raised over Rs.97 crore from investors.