KOLKATA/GUWAHATI, JULY 31 (KDC): The Central Bureau of Investigation (CBI) has arrested Ajay Kumar alias Raju Gupta, the absconding Director of the Idol India Group of Companies, in connection with a major financial fraud case in Assam. He was nabbed on July 30 from Kolkata after years of evading arrest.
The arrest is linked to a case registered by the CBI following a 2013 notification by the Government of Assam and a directive from the Supreme Court in 2014. The case involves allegations that the Directors of Idol India Infrastructure Ltd., Idol India Debenture Trust, and Idol India Projects Ltd. floated dubious investment schemes, collecting large sums of money from unsuspecting investors across Assam with false promises of high returns. The funds were later misappropriated.
CBI filed a chargesheet on December 22, 2022, against Ajay Kumar and others under sections 120B (criminal conspiracy), 406 (criminal breach of trust), 409 (criminal breach of trust by public servant), and 420 (cheating) of the Indian Penal Code (IPC), as well as sections 4, 5, and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act.
Despite multiple attempts, Kumar remained elusive for years. After extensive surveillance and groundwork, CBI traced him to Kolkata, where he was finally apprehended.
He was produced before the Chief Judicial Magistrate of North 24 Parganas at Barasat, who granted his transit remand. The accused is scheduled to be presented before the Special Judge, CBI Court in Guwahati later today.
The CBI continues its efforts to bring all culprits involved in financial crimes to justice. (KDC)
