CBI Court Jails Executives in Tripura Chit Fund Fraud Case

A CBI court in Tripura has sentenced three executives of Pragatishil Infra Project Services to six years in prison for a Rs 5.5 crore fraud affecting over 800 depositors. The court also ordered the attachment of the company's properties to repay the victims.

In a significant verdict, a CBI special court in Tripura has sentenced three top executives of the chit fund company, Pragatishil Infra Project Services Private Ltd, to six years of rigorous imprisonment. The executives were found guilty of defrauding over 800 investors of Rs 5.5 crore.

The court directed the Unakoti district magistrate to confiscate the company's assets to compensate the victims. The company, which began operations in Unakoti district in 2009, had promised substantial returns that never materialized, leading to legal action and the eventual court decision.

Following an investigation and charge sheet from the CBI, the court established that the executives—Arindam Das, Dwipsikha Das, and Paritosh Das—mishandled the funds, resulting in this verdict under the Tripura Protection of Interests of Depositors Act, 2000. This outcome comes as a relief to the defrauded depositors.