The Calcutta High Court granted bail to Saradha scam accused Sudipta Sen in the last two pending cases. The order clears the way for his release after nearly 13 years in jail in the multi-crore chit fund scam.
The Calcutta High Court on Wednesday granted bail to Sudipta Sen, the main accused in the multi-crore Saradha Ponzi Scam, in the last two remaining criminal cases against him. This decision clears the way for his release from jail after spending nearly 13 years in custody.
According to the court proceedings, a division bench granted bail to Sen in two cases linked to Barasat police station in the North 24 Parganas district of West Bengal. These were among the final pending cases, as Sen had already secured bail in all other cases filed against him, including four major cases investigated by the Central Bureau of Investigation (CBI).
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With this order, there are no longer any pending cases in which bail has not been granted to Sen. The court directed that he be released after submitting a bail bond of ₹5,000 along with two sureties of the same amount. It also specified that one of the sureties must be a local resident.
Sudipta Sen was arrested in April 2013 from Jammu and Kashmir after authorities uncovered large-scale financial irregularities involving the Saradha Group. The scam, which shook West Bengal and other eastern states, involved the alleged misappropriation of hundreds of crores of rupees collected from investors through fraudulent deposit schemes.
The Saradha Ponzi scam became one of the biggest financial scandals in India, affecting lakhs of small investors who were promised high returns. Over the years, multiple criminal cases were registered against Sen across various jurisdictions, leading to prolonged legal proceedings and his continued imprisonment.
The latest bail order by the Calcutta High Court marks a significant legal development in the long-running case, effectively bringing an end to Sen’s incarceration, subject to compliance with the bail conditions set by the court.
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