CBI nabs Debabrata Dutta in Rs 17.22 crore chit-fund case
Debabrata Dutta, who had been at large for a long time, has been arrested by the Central Bureau of Investigation (CBI) in connection with a chit-fund scam that involved hundreds of small depositors and amounted to multiple crores; this marks the end of years during which he had been evading arrest in the case. At the time, Dutta was the proprietor of M/S DNB Food Processing Pvt Ltd.
The investigators say that he took part in a criminal conspiracy with other people. He illegally obtained money from unsuspecting investors by claiming it was part of an investment or a prize-chit scheme. Rather than paying the promised returns, the accused, together with his associates, misappropriated Rs 17,22,39,453; the money was diverted and not used for any legitimate business purpose related to the food-processing company.
The case, referred to as RC 10(S)/2014-Kol, was prosecuted under the appropriate provisions of the Indian Penal Code concerning cheating, criminal conspiracy and criminal breach of trust, in conjunction with the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. That act bans schemes that promise prizes or high returns through a chain of new depositors-structures that often turn into Ponzi schemes when recruitment declines.
The CBI filed the chargesheet and listed Dutta as an absconder, as he had neither participated in the investigation nor appeared before the investigators. A non-bailable warrant was then served against him on 5 August 2024. Even though the warrant was still valid, he still managed to avoid arrest for two additional years.
The CBI teams, based on information from a source and after sustained efforts, including field checks, eventually found Dutta in Siliguri; he was arrested on 28 August 2026 and is currently being transported to Bhubaneswar on a transit remand to appear before the appropriate court there. Further questioning is likely to concentrate on the money trail, the identities of the co-conspirators and the location of any remaining assets.
The arrest highlights that the CBI is still pursuing older chit-fund and money-circulation cases that became numerous in eastern India, especially in West Bengal and Odisha, in the mid-2010s. These various organisations carried out their activities under the guise of legitimate companies, such as those involved in food processing, trading, or multi-level marketing. At the same time, they accepted public deposits without obtaining the necessary regulatory approval. When the schemes collapsed, the promoters usually fled the country, leaving the depositors, who were often from lower — and middle-income groups, with no means of redress.
DNB Food Processing Pvt Ltd was established in 2008 in Siliguri, and Debabrata Dutta is listed as one of its directors. Furthermore, separate civil proceedings have been filed in the Calcutta High Court involving both the company and a public-sector bank, indicating broader financial problems.
The exact number of victims and the complete list of the other persons still at large have not yet been made public. It is a top priority for the CBI to recover the misappropriated amount, even though experience in similar cases indicates that it is often difficult to trace and attach assets many years after the offence.
The CBI has once again stated that individuals who have fled in cases involving economic offences will still be pursued using intelligence-driven operations. Dutta’s appearance before the Bhubaneswar court is due to mark the next official phase of the prosecution, which has been pending for a long time.
