Tripura chit fund scam: Three company executives sentenced to six years in jail

A special CBI court in Tripura on May 30 sentenced three executives of a chit fund company to six years of rigorous imprisonment each for allegedly defrauding more than 800 depositors of around Rs 5.5 crore.

Special CBI Judge Debasish Kar also directed the Unakoti district administration to initiate the process of attaching the company's properties to facilitate repayment to affected investors.

According to the prosecution, Pragatishil Infra Project Services Private Ltd began operations in Unakoti district in 2009 and collected deposits from the public by promising attractive returns upon maturity.

However, the company allegedly stopped making payments after the schemes matured in 2012, prompting aggrieved investors to lodge a complaint at Kailashahar Police Station.

Following an investigation, the Central Bureau of Investigation filed a chargesheet against three company executives—Arindam Das, chairman and managing director; Dwipsikha Das, administrative director; and Paritosh Das, managing director.

Special CBI Public Prosecutor Prasenjit Saha said the court found the accused guilty of misappropriating approximately ₹5.5 crore collected from around 800 depositors.

The court sentenced all three under the Tripura Protection of Interests of Depositors (in Financial Establishments) Act, 2000.

In addition to the prison term, the court directed the Unakoti district magistrate to attach the company's assets and take necessary steps to return the money to the affected depositors.