CBI Extends Custody Of Kaustuv Ray, Shivaji Panja

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Kolkata: The custody of businessmen Kaustuv Ray and Shivaji Panja to the Central Bureau of Investigation (CBI) has been extended, when the duo was produced before CBI’s Special Court on Monday.

They had been arrested on March 15 on charges of misappropriating Rs 515.15 crore, that they had managed to get from several banks by providing “false and fabricated” documents and the loan was taken for their business of manufacturing and trading computers under the brand name of “Chirag”.

CBI had arrested them after interrogation at CGO Complex in Salt Lake and they were remanded in the custody of the investigating agency when produced before the court on March 16.

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