Guwahati, July 31 The Central Bureau of Investigation (CBI) has arrested Ajay Kumar alias Raju Gupta, the absconding former Director of Idol India Group of Companies, in connection with a multi-crore financial fraud case in Assam.
He was apprehended from Kolkata on Wednesday, July 30, after years of evading arrest, the agency said on Thursday.
The CBI had registered the case following a notification issued by the Government of Assam on May 6, 2013, and in compliance with an order passed by the Supreme Court on May 9, 2014.
According to the CBI, Ajay Kumar and other directors of the Idol India Group allegedly floated multiple entities -- Idol India Infrastructure Ltd, Idol India Debenture Trust, and Idol India Projects Ltd -- under various investment schemes.
These schemes were used to lure unsuspecting investors across Assam with false promises of high returns on deposits.
The agency alleged that the company collected large sums of money from the public and misappropriated the funds.
Following a thorough investigation, the CBI filed a charge sheet on December 22, 2022, before the Special Judge, CBI Court, Guwahati, against Ajay Kumar and others.
They were charged under Sections 120B (criminal conspiracy), 406 (criminal breach of trust), 409 (criminal breach of trust by a public servant or banker), and 420 (cheating) of the Indian Penal Code, as well as relevant sections of the Prize Chits and Money Circulation Schemes (Banning) Act (PCMS Act).
Ajay Kumar had been absconding for several years, deliberately avoiding arrest despite multiple attempts by investigating officers to locate him.
Acting on a tip-off, the CBI was finally able to trace him to a location in Kolkata, where he was taken into custody.
He was produced before the Chief Judicial Magistrate of North 24 Parganas at Barasat, who granted transit remand for his transfer to Assam. The accused will be produced before the Special Judge, CBI Court, Guwahati, for further proceedings and custodial interrogation.
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