CBI nabs fugitive director in Assam multi-crore scam after years on the run

The Central Bureau of Investigation (CBI) has arrested Ajay Kumar alias Raju Gupta, former Director of the Idol India Group of Companies, in connection with a major financial fraud case in Assam. 

The arrest was made on July 30 in Kolkata after years of the accused evading law enforcement.

The CBI registered the case following a notification issued by the Government of Assam on May 6, 2013, and the directive of the Supreme Court dated May 9, 2014, in Writ Petition (Civil) Nos. 401 and 413 of 2013. According to the allegations, the accused and other directors of the group ran various fraudulent schemes under names such as Idol India Infrastructure Ltd., Idol India Debenture Trust, and Idol India Projects Ltd., collecting large sums of money from unsuspecting citizens of Assam with false promises of high returns and interest.

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After an extensive investigation, the CBI filed a chargesheet on December 22, 2022, against Ajay Kumar and others under Sections 120B, 406, 409, and 420 of the Indian Penal Code and Sections 4, 5, and 6 of the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. The chargesheet was submitted before the Court of the Special Judge, CBI, Guwahati.

Ajay Kumar had been absconding for several years and was actively evading arrest. After substantial efforts, the CBI traced him to Kolkata and apprehended him. He was produced before the Chief Judicial Magistrate of North 24 Parganas at Barasat, West Bengal, who granted his transit remand.

The accused is scheduled to be produced before the Special Judge, CBI Court in Guwahati today.