The Telegraph
Tuesday , May 20 , 2014
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Saradha official cuffed in Dhubri

- Sheikh allegedly duped depositors of over Rs 100 crore

Dhubri, May 19: Police arrested the assistant general manager of Saradha Realty India’s finance section in Dhubri, Abdul Kader Sheikh, today.

Sheikh was evading arrest since the closure of the company last year.

Sheikh allegedly duped depositors of over Rs 100 crore, but remained in public view for a few months after the scam broke out. He even went to Calcutta with agents to get the money back from Saradha owner Sudipta Sen. Sheikh absconded when it came to light that a lion’s share of the money collected from the depositors was not deposited in the company’s account by him.

A police source in Dhubri said Sheikh was arrested in the case registered against him under Sections 406 and 420 IPC. He was taken to Bilasipara police station for interrogation. After handing over the case to the CBI last week, the police swung into action and arrested him, as Sheikh was an important official in Dhubri who handled the money matters, a police source said.

On May 20 last year, the police sealed the biscuit factory owned by the company and deposit-collecting offices at Bilasipara and Dhubri.

The police, besides closing the offices of Saradha Realty India in Bilasipara town, also closed the offices of two more private financial companies, Jeevan Suraksha and Monitor, and seized their computers, official documents and a generator, sources said.

A local agent unwilling to be quoted said in a letter written by Sudipta Sen to the CBI, Sen had alleged that Sheikh and a few other local office-bearers had not deposited a huge amount of money collected from depositors to the tune of Rs 80 crore.

“Altogether 31 agents lodged complaints against him (Sheikh) at Dhubri police station on April 26 last year. We are trying to get back the money of the depositors,” an agent said.

When contacted, the officer-in-charge of Dhubri police station, Manik Kalita, said the police had been looking for him since last year but he kept changing his location and evaded arrest.

“We received definite information about his whereabouts in Dhubri and soon raided the house in the town and arrested him today. We have handed him over to Bilasipara police for interrogation there. We will also interrogate him on the basis of a case registered against him,” Kalita said.