Saradha Scam Chief Sudipta Sen Gets Bail After 13 Years, Set To Walk Free Soon
Sudipta Sen gets bail after 13 years in Saradha scam.
The Calcutta High Court on Wednesday granted bail to Sudipta Sen, the chief of the Saradha Group, effectively clearing the final legal hurdles to his release after more than 13 years in custody. Sen’s release could take place as early as Thursday, subject to completion of formalities and in the absence of any fresh legal developments.
Sen, who was arrested in Kashmir in April 2013, has been at the center of one of eastern India’s largest financial scams. The multi-crore Saradha chit fund collapse affected thousands of investors and triggered significant political and financial fallout in West Bengal. While Sen had previously secured bail in cases investigated by the Central Bureau of Investigation (CBI), several state-registered cases had prevented his release.
According to his legal counsel, a total of 389 cases were registered against the Saradha Group following its collapse. The last remaining obstacle comprised two cases lodged at Barasat Police Station in North 24 Parganas. With the High Court granting bail in these matters, the path for Sen’s release has now been cleared.
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During hearings earlier this week, a Division Bench led by Justice Rajarshi Bharadwaj expressed strong concern over the prolonged delay in the trial. The court noted that charge sheets were filed as early as 2014, yet proceedings had not begun even after a decade, raising questions about the timely administration of justice.
The bench emphasized that no individual can be held indefinitely without trial and suggested that granting bail might expedite the legal process, including efforts to ensure restitution for defrauded depositors. The court also criticized the CBI for delays, questioning its role in ensuring a timely conclusion to the proceedings. Specific conditions for Sen’s bail were imposed, though details have not yet been disclosed.
Since his arrest, Sudipta Sen has remained behind bars as legal and investigative processes unfolded, while thousands of investors continue to await compensation. With his imminent release, renewed attention is likely to focus on efforts to recover investments and provide restitution for those affected by the decade-long Saradha scandal.
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