Absconding Pailan Group director lands in CBI net

Kolkata: Central Bureau of Investigation (CBI) has arrested one of the directors of Pailan Group from Sealdah railway station on Friday evening. The accused, identified as Binay Kumar Singh, had been absconding for almost a year. Another director of the group, identified as Apurba Saha, is still on the run.

According to sources, Pailan Group was named in the complaint lodged by CBI a few years ago, in connection with a different chit fund scam.

It was alleged that the group had racked up a huge amount of money under the guise of their real estate business. They had also made actor Rituparna Sengupta their brand ambassador for the same.

During investigation, CBI had raided several offices of Pailan Group and houses of the group's portfolio holders. In the middle of investigation, Singh and other directors managed

to hide in order to avoid suspected arrest.

Recently, CBI came to know that Singh was trying to change his hideout using Kolkata as corridor. However, whether he was staying in Kolkata or coming from somewhere else was not determined.

On Friday, CBI got a tip that Singh will come to Sealdah railway station. A team from CGO Complex in Salt Lake soon went to the station and kept a strict vigil across the platforms. In the evening, CBI officials spotted him at platform number 9 and immediately, Singh was surrounded. Later, he was brought to the CGO Complex and subsequently arrested.

Earlier during 2018, CBI had conducted raids at several places in and around Kolkata, in connection

with the chit fund case involving the Pailan Group and had managed to seize a huge amount of incriminating documents.

According to CBI, the group had collected around Rs 520 crore from the market through different chit fund scams, by assuring a high rate of interest.