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CHIT FUND FRAUD – SUPREME COURT CANCELLED BAIL.

Central Bureau of Investigation vs Ramendu Chattopadhyay – CRL APL NO: 1711 of 2019 – 19.11.2019 – Justice MOHAN M. SHANTANAGOUDAR – Justice SANJIV KHANNA.

CHIT FUND FRAUD – SUPREME COURT CANCELLED BAIL.

Hon’ble Supreme Court cancelled the bail granted by the High Court during the investigation observed as follows:

This Court is conscious of the need to view such economic offences having a deep­rooted conspiracy and involving a huge loss of investors’ money seriously. Though further investigation is going on, as of now, the investigation discloses that the Respondent played a key role in the promotion of the chit fund scam described supra, thereby cheating a large number of innocent depositors and misappropriating their hardearned money. download full judgment here: interim bail cancelled

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