Were Saradha chit fund owner Sudipta Sen and director Debjani Mukherjee acquitted in three cases?
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Synopsis
Sudipta Sen and Debjani Mukherjee's acquittal in three cases related to the Saradha chit fund scam marks a significant development. Despite this, they continue to face numerous other accusations. Explore the implications of this ruling and what it means for the ongoing investigations into the notorious scam.
Key Takeaways
- Sudipta Sen and Debjani Mukherjee have been acquitted in three cases.
- They remain incarcerated due to additional fraud allegations.
- Over 200 fraud cases are filed against the Saradha company.
- Investigation continues by the CBI and ED.
- Legal battles are expected to persist for both individuals.
Kolkata, Aug 19 (NationPress) The owner of the Saradha chit fund, Sudipta Sen, along with Debjani Mukherjee, a director of the Saradha Group, has been acquitted in three separate cases linked to the chit fund scandal.
In 2013, the Hare Street police station in central Kolkata registered three FIRs against them, accusing them of fraud amounting to approximately Rs 10-15 lakh. Subsequently, the West Bengal government initiated legal proceedings against them. However, on Tuesday, the Bankshall court ruled in favor of Sudipta and Debjani, leading to their acquittal in all three cases.
Despite this ruling, they remain incarcerated due to numerous pending fraud cases against them.
Over 200 fraud cases have been filed against the Saradha chit fund company. Additionally, both individuals face investigations from two central agencies—the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
Defense attorneys Shuvojit Bal and Abhijit Bal represented Debjani in court. Attorney Shuvojit pointed out that while 50 witnesses were named in these cases, testimony from around 15 was absent. He argued that those who claimed to be defrauded could not substantiate their allegations.
"This is the reason the court acquitted Sudipta and Debjani in these three Hare Street cases. These are the initial cases faced by them," the lawyer remarked.
After the Bankshal court's decision, Debjani's mother, Sharvari Mukherjee, expressed her relief, stating, "Today marks the first time they have been acquitted. Justice takes time, and I have faith that they will be vindicated in other cases too."
In the wake of the Saradha chit fund scandal in 2013, Sudipta Sen and Debjani were arrested in Kashmir after attempting to flee there. They have remained in custody since, although Debjani was briefly released on parole in 2023.
Numerous complaints against the Saradha Group were lodged across various police stations in the state, prompting the CBI to take over the investigation and file charges. The ED and the Securities and Exchange Board of India (SEBI) also initiated their own cases against Sudipta.
Point of View
The acquittal of Sudipta Sen and Debjani Mukherjee in these three cases raises questions about the efficacy of the justice system in handling financial fraud. While it is a victory for the accused, it underscores the ongoing challenges faced by authorities in pursuing accountability in high-stakes financial crimes. The larger narrative of the Saradha scam continues to unfold, emphasizing the need for vigilance in protecting investors.
NationPress
19/08/2025
Frequently Asked Questions
What were Sudipta Sen and Debjani Mukherjee charged with?
They were charged with fraud in connection to the Saradha chit fund scandal, with allegations involving approximately Rs 10-15 lakh.
What is the current status of Sudipta Sen and Debjani Mukherjee?
Although acquitted in three cases, they remain in jail due to multiple pending fraud cases against them.
How many fraud cases are linked to the Saradha chit fund company?
There are over 200 fraud cases associated with the Saradha chit fund company.
Which agencies are investigating the Saradha scam?
The Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) are currently investigating the Saradha scam.
What impact does this acquittal have on other cases against them?
While this acquittal may suggest a potential for future acquittals, it does not directly affect the many other pending cases against them.
