'Chit fund' company's director arrested in Kolkata

April 20, 2013 22:28

One of the directors of 'chit fund' company Saradha Group was today arrested in Kolkata while its Chairman and Managing Director Sudipta Sen remained at large.

"We have arrested Manoj Kumar Nagel, who is one of the directors of the company, from Bidhannagar. We are also looking out for their chairman Sudipta Sen by keeping a vigil at airport and other places," a senior police official at Bidhannagar Commissionerate said.

The West Bengal government has already ordered Sen's arrest.

With a huge default in repayments, the Saradha Group is virtually on the verge of collapse.

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