Saradha scam: Calcutta HC grants Nalini Chidambaram interim protection from arrest for six weeks

Kolkata (West Bengal): The Calcutta High Court on Monday provided Nalini Chidambaram, wife of former Finance Minister P Chidambaram, interim protection from arrest by CBI for six week in the Saradha chit fund case.

The order was passed by a division bench comprising justices Joymalya Bagchi and Monojit Mandal while hearing an anticipatory bail application filed by Nalini.

The court has will hear the matter again after six weeks.

On February 14, Nalini filed the anticipatory bail plea in the high court after her name figured in a supplementary charge sheet filed by CBI in the chit fund case.

The Nailini’s counsel told the court today that she will cooperate with the investigation in the case.
On January 11, CBI filed a charge sheet against Nalini in a competent court in connection with the ponzi scam.

The agency filed the sixth supplementary charge sheet in line with the Supreme Court’s 2014 order, naming Nalini and one company.

CBI has accused Nalini of entering into a criminal conspiracy with Sudipta Sen, the proprietor of Saradha Group of companies, and other accused and committing the offences of cheating and misappropriation , which was an umbrella company of 200 private of funds.

The Saradha Group, which was an umbrella company of 200 private players, allegedly cheated thousands of investors by running ponzi schemes. The multi-crore-rupee chit fund scam allegedly involves several key leaders.

In September 2016, the Enforcement Directorate (ED) had first summoned Nalini to appear in its Kolkata office as a witness in the scam. Nalini, who is a senior lawyer, was allegedly paid a legal fee of Rs 1 crore by the Saradha Group for her appearances in court and the Company Law Board.