Paul assured investors about Rose Valley: CBI

BHUBANESWAR: Trinamool Congress MP Tapas Paul was remanded in 14 days’ judicial custody on Friday by a special CBI court after the central agency argued that he might influence the investigation if granted bail. Later in the evening, while Paul was being taken to the Jharpada jail in Bhubaneswar, he slumped on the ground and was moved to the jail hospital. He also broke into tears at that time, said a source.
The CBI counsel told the court that Paul was a director of the Rose Valley Group when it was mopping up money from people.The Trinamool MP had earlier told CBI that he was a director of the advisory board of the Rose Valley Films. But investigators found that there was no trace of any such advisory board. He was issued an appointment letter by the company boss Gautam Kundu on February 16, 2010 for becoming a director. He resigned from the post on July 31, the same year.
On Friday morning, a CBI team had flown down to Bhubaneswar from Kolkata to interrogate Paul.
Arguing the case at the court of ACJM and special CJM (CBI) Prashant Kumar Mishra, CBI lawyer Kali Charan Mishra said, “We have enough evidence that he has made several public speeches and told investors that the company is good. He assured them that their investments were secure.” Alleging that Paul had actually facilitated the work of the Ponzi firm, Mishra said Paul’s resignation was a part of a plot and that he was present when a corporate office of the company was inaugurated in 2011. Paul had also allegedly stayed at Chrome hotel in Kolkata, a property owned by the company.
During the deliberations, Paul who looked visibly pale complained of weakness and sought the judge’s permission to sit. Sources said his blood pressure had been irregular since his arrest. He also looked unkempt as he did not shave like he had done in his previous court appearance. Paul’s lawyer Diptangshu Basu told the court his client had been feeling unwell since Thursday night.
Arguing Paul’s case at the court, lawyer Sabyasachi Banerjee said the agency was yet to quantify the amount he had allegedly swindled from the company. “CBI conducted a search at Paul’s home and office in March 2015 and summoned him to their office in October that year. Paul had submitted all documents a few days after that. In the meantime, the first chargesheet in the Rose Valley case was submitted. Suddenly they decided to arrest him 14 months after the search,” Banerjee argued.
Meanwhile, digging into the donation made by Rose Valley chief Gautam Kundu to a south Kolkata college for his son’s admission, CBI officials have zeroed in on a member of the institute’s alumni association. The member, who was allegedly aware of the donation made by Kundu, had been instrumental in garnering the company’s sponsorship for the alumni programme.