A Bidhannagar court on Wednesday granted the CBI transit remand of Pailan Group chief Apurba Saha who was arrested on charges of raising money from the public through "fraudulent schemes".
Saha was arrested from Kolkata by the Economic Offences Wing (EOW) of the CBI on Tuesday in connection with a Rs 574-crore ponzi scam case.
The court granted the investigation agency transit remand of the Pailan Group chief till November 2 after which he would be produced at a regular court at Islampur in North Dinajpur district.
A CBI source said Saha, in connivance with others, had raised around Rs 574 crore from the public through illegal schemes.
The CBI was investigating ponzi firms such as Saradha and Rose Valley which defrauded thousands of investors by luring them with promises of high returns.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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 →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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