Kolkata: Shib Narayan Das, director of Kolkata-based Saradha Realty, was on Sunday remanded in CBI custody for four days by a city court in connection with the multi-crore chit fund scam.
CBI had arrested Das in Kolkata yesterday and seized a fully-loaded .38 calibre revolver from him.
Das was produced before the Alipore court today. He would be produced before the court again on January 22.
He had allegedly suggested to the Saradha Group chairman Sudipto Sen to start a chit fund company and lure investors to deposit in their schemes in 2008.
CBI sources said that after founding the Saradha Group on July 8, 2008, Sen had appointed Das as the director and shareholder.
According to sources, it was suggested by Das that while 30 per cent of the deposits would be retained by them, the rest could be returned to investors after 10-12 years at a decent interest.