Sudipta Sen of Saradha Chit Fund Granted Bail After Thirteen Years
Synopsis
Sudipta Sen, the mastermind behind the Saradha chit fund scandal, has been granted bail after nearly 13 years in judicial custody. The Calcutta High Court's ruling clears his path to freedom, but with conditions attached. His arrest in 2013 marked a significant chapter in India's financial corruption saga.
Key Takeaways
Sudipta Sen has been granted bail after nearly 13 years in custody.
The bail was granted by the Calcutta High Court , led by Justice Rajarshi Bharadwaj .
Sen was the main accused in the Saradha chit fund scam .
A total of 389 cases have been filed against Sen, with 76 by the CBI.
There are conditions attached to his bail.
Kolkata, April 8 (NationPress) The owner of the Saradha chit fund, Sudipta Sen, is expected to be released from judicial custody on Thursday after being granted bail in all corruption cases against him.
Having spent nearly 13 years in judicial custody, Sen is currently incarcerated at the Presidency Correctional Home located in Kolkata, West Bengal.
The Calcutta High Court division bench, led by Justice Rajarshi Bharadwaj, delivered its verdict on Wednesday, approving his bail in two outstanding cases associated with the state police.
Consequently, there are no remaining legal barriers preventing Sen's release from custody.
However, the court has placed several stipulations on his bail.
As the principal figure implicated in the Saradha chit fund scam, Sen is poised to walk free on Thursday.
The Central Bureau of Investigation (CBI) had initiated 76 cases against him.
He had already secured bail in all cases brought forward by federal investigation agencies.
Currently, he was only in judicial custody for two cases filed by the Barasat police.
The division bench of Justice Rajarshi Bharadwaj has now granted bail to Sen in both of these cases.
Interestingly, on Tuesday, the Calcutta High Court criticized the state regarding Sen's bail application.
The CBI also faced reprimand from the court, which subsequently reserved its ruling.
The lawyer representing the plaintiff informed the court that a total of 389 cases have been registered against Sudipta Sen.
Sen's initial arrest occurred on April 27, 2013, stemming from a complaint lodged by the Bidhannagar police. Following that, the CBI took over the investigation, leading to the filing of 76 cases and later, four additional cases.
Charge sheets against Sen were issued by the state police for the remaining cases.
Sen obtained bail in the four cases after meeting the bail bond requirements.
However, of the 309 cases managed by the state police, two remain unresolved.
Two pending cases from the Barasat police station were still active against Sen.
During the hearing at the Calcutta High Court on Wednesday, Sen was granted bail in all cases.
Regarding the bail decision, Kunal Ghosh, the Trinamool Congress candidate from the Beleghata Assembly constituency, remarked, "The matter of bail is governed by law and the courts. Sudipta Sen applied for bail, and the court has granted it, so there is no further comment on that for now."
After the Saradha chit fund scam was exposed in 2013, Sudipta Sen and his associate, Debjani Mukherjee, were apprehended in Kashmir. They were arrested after attempting to evade capture.
Both individuals have remained in judicial custody since their arrest. Notably, in 2023, Debjani was briefly released on parole.
Point of View
It is essential to recognize the legal complexities surrounding Sudipta Sen's case. With the court granting bail after a prolonged judicial custody, questions linger about the integrity of financial institutions and the accountability of those in power. This case underscores the need for stringent measures to prevent such financial frauds in the future.
NationPress
11 Jul 2026
Frequently Asked Questions
How long was Sudipta Sen in custody?
Sudipta Sen was in judicial custody for nearly 13 years.
What was the Saradha chit fund scam?
The Saradha chit fund scam was a major financial scandal in India involving a fraudulent investment scheme that defrauded thousands of investors.
What are the conditions of Sen's bail?
While specific conditions were not disclosed, the court imposed several stipulations on Sen's bail.
How many cases were filed against Sudipta Sen?
A total of 389 cases have been registered against Sudipta Sen.
Who criticized the CBI during the bail hearing?
The Calcutta High Court reprimanded the CBI during the bail hearing of Sudipta Sen.
