NISHITA MHATRE,TAPASH MOOKHERJEE,JJ. - (1.) The Central Bureau of Investigation (for short 'CBI') has filed the present application for cancellation of the bail granted by the Sessions Judge,Alipore, sitting as the Vacation Judge.
(2.) The present case arises in view of the alleged involvement of the Opposite Party along with several other accused in cheating the investors of their hard -earned money, most of whom are from the poorer sections of society, of an enormous amount of money running into several thousands of crores of rupees. The alleged involvement of the Opposite Party was revealed while investigating what is popularly known as the "Sarada Chit Fund Scam"case.
(3.) The Opposite Party had applied for bail on three previous occasions before the Sessions Court. These applications were rejected on 20th May, 25th June and 2nd July, 2015.;