Pradeep Pattanayak

The Orissa High Court on Monday rejected the bail application of Debjani Mukherjee, who was the director of the Saradha Group of Companies and a co-accused in the multi-crore Saradha chit fund scam. 

A depositor, Rabinarayan Swain was duped of Rs 75,000. In this connection, the Odisha Crime Branch’s Economic Offences Wing had registered a case on May 6, 2013. In the case, along with Debjani, her husband and chairman of Saradha Group of Companies Sudipta Sen, some agents, Saradha Reality India and Saradha Garden Resort and Hotel Private Limited were mentioned as the accused. 

In connection with some cases relating to the scam, Kolkata Police had arrested Debjani on April 22, 2013. During her imprisonment, she was mentioned as arrested in connection with Rabinarayan Swain’s case on December 15, 2016. From the CBI investigation, it was proved that the Saradha group had duped people of Rs 2,569 crore. 

She has since been lodged in jail. 

Sudipta Sen had launched Saradha scheme in the early 2000s. Since it aimed at small investors and promised high returns, it became popular in a very short period of time.


(Reported by Goutam Panda, OTV)