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CBI takes over probe into 2013 cheating case

CBI takes over probe into 2013 cheating case

New Delhi, March 3 (SocialNews.XYZ) The Central Bureau of Investigation (CBI) has filed a fresh FIR against an Assam-based private firm -- Seba Real Estate Limited -- and its directors who allegedly collected money through their agents from common people on the pretext of selling them policies, but cheated them by not giving them the matured amount.

An FIR was lodged in the matter on February 25, 2013 in Tripura, where the firm had its branch. The CBI has now taken over the probe into the matter.


According to sources, Seba had reportedly raised Rs 25.34 crore from 41,298 investors between 2006 and 2011. Capital markets regulator Sebi had in 2016 ordered Seba to return the amount to the investors with an interest of 15 per cent per annum.

As many as 17 complainants had approached a local Tripura court, which ordered the filing of an FIR with Tripura police against the firm and its directors.

The 17 complainants were working as agents of the firm. They stated in their complaint that they were engaged and appointed by the accused persons (board of directors of the firm) to work as agents in the firm.

"The agents of Seba Real Estate Limited deposited a total amount of Rs 9,06,332 with the firm's branch in Tripura. This amount was collected from a number of persons in the name of selling them different policies. But no one was given a single penny by the firm even after the completion of the said period. The policy holders contacted the accused persons a number of times but they refused to pay the matured amount and locked up the branch of the firm. The board of directors also threatened the policy holders of dire consequences if they dared to take any legal action against them," read the complaint of agents who were working for the firm.

The agents of the firm, who later turned complainants, also learnt that the board of directors of the firm had been planning to flee abroad, either to Nepal or China, with the money collected from the policy holders.

Source: IANS

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CBI takes over probe into 2013 cheating case

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