 "Saradha head gets 3-year jail")
Saradha Group Chairman Sudipto Sen was sentenced to three years’ rigorous imprisonment and a fine of Rs 10,000 by a Bidhannagar (West Bengal) court on Friday in a provident fund default case, making it Sen’s first conviction in a slew of cases involving a multi-crore collective investment scam.
Sen would get another six months’ imprisonment if the fine is not paid, the court said.
He was convicted under Section 406 (criminal breach of trust) for default in depositing provident fund of employees, to which Sen confessed before the court, Section 120B of the Indian Penal Code for conspiracy.
The number of days he has already been behind bars since arrest in April last year will be deducted from his term. Hundreds of cases are pending against Sen, accused of duping lakhs of depositors in West Bengal and other states.
Sen would get another six months’ imprisonment if the fine is not paid, the court said.
He was convicted under Section 406 (criminal breach of trust) for default in depositing provident fund of employees, to which Sen confessed before the court, Section 120B of the Indian Penal Code for conspiracy.
The number of days he has already been behind bars since arrest in April last year will be deducted from his term. Hundreds of cases are pending against Sen, accused of duping lakhs of depositors in West Bengal and other states.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%