CBI arrests absconding accused in chit fund case
The CBI has arrested Debabrata Dutta, a former proprietor accused of misappropriating ₹17.22 crore in a chit fund case. The accused had been absconding since 2022 and was finally traced to Siliguri.
Why it matters
This arrest represents a significant development in the ongoing legal efforts to address financial fraud and protect depositors in India.
The Central Bureau of Investigation (CBI) has arrested one accused person, the then proprietor of M/s DNB Food Processing Private Limited, in an alleged chit fund misappropriation case.
Accused Debabrata Dutta, along with others, allegedly misappropriated funds to the tune of ₹17.22 crore, and has been absconding since December 22, 2022.
The funds were illegally collected from gullible depositors, according to the CBI. “The accused was absconding and did not cooperate with the investigation. He was declared an absconder in the chargesheet filed on December 26, 2022,” the agency said.
The CBI invoked provisions of the erstwhile Indian Penal Code and the Prize Chits and Money Circulation Schemes Banning Act. A non-bailable warrant was issued against the accused on August 5, 2024.
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