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Cases have been filed under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhitha (BNS) against Managing Director K Santhosh and Director Mubashir, both residents of Edakkara, Malappuram.
A police investigation found that Rana, who was running the chit fund ‘Safe and Strong’, handed over Rs 16 crore to a Kochi-based hotelier, expecting 10 times the return on investment.
This is the concluding part of a Malayala Manorama series on 'Missing Party Funds.'
The incident came to light when a woman living in the neighbourhood reached Biju’s house to buy milk.
Revelations made by CBI were relating to the recent interrogation of the then Kolkata Police Commissioner Rajeev Kumar.
The Crime Branch believes that the custodial torture suffered by Raj Kumar has some connection with this money transaction.
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