Photo Courtesy: nenow
Guwahati: The Supreme Court ordered the release of Sudipta Sen on Tuesday. Sen, the chairman and managing director of the Saradha Group, faces charges in a massive inter-state chit fund scam. He has been locked up since December 30, 2016. Justices Sanjay Karol and Augustine George Masih issued the ruling after reviewing his appeal against a January 20, 2025, decision by the Gauhati High Court.
Sen must now appear before the trial court to settle his bail terms. The Supreme Court wants the trial finished quickly. "Considering the totality of circumstances and also the fact that the appellant has been in custody since 30.12.2016, we are inclined to grant bail to the appellant on such terms as may be fixed by the Trial Court. Ordered accordingly," the bench stated. Advocate Saurabh Sharma led the defense, assisted by Puja Kumari Shaw, Ankit Kumar, and Aniruddha Purushotham.
Police arrested Sen in Kashmir back in April 2013. The CBI eventually took over the investigation under case number CBI/SCB/Kolkata RC No. 62/S/2014, which started as Dispur Police Station Case No. 732/2013. A Special Investigation Team, led by Rajeev Singh, probed how the Saradha Group swindled investor money. The investigators scrutinized the roles of the Securities and Exchange Board of India and the Reserve Bank of India.
The probe reached the top levels of Assam politics. CBI agents searched the home of Himanta Biswa Sarma in August 2014. Sarma, a former minister under Tarun Gogoi, faced claims from Sen that he took Rs 3 crore in cash and vouchers. CBI officials questioned Sarma in 2015, the same year he defected from the Congress party to the BJP. He now serves as the Chief Minister of Assam.
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