Agartala, Tripura, 30th of May 2026 : Tripura’s Special CBI Court has convicted three senior officials of Progressive Infra Projects Services Limited (PIPSL) in connection with a multi-crore investment fraud case, handing down rigorous prison sentences for their role in the alleged ₹5.5 crore scam.
The court delivered the judgment after an extended hearing into allegations of financial fraud involving investors’ deposits. The verdict has brought renewed hope and satisfaction to many depositors who claimed to have been cheated.
CBI officials stated that Arindam Das, Dipshikha Das Chakraborty, and Paritosh Das, senior functionaries of Progressive Infra Projects Services Limited (PIPSL), were found guilty in the case. The trio allegedly lured thousands of investors in Tripura with promises of lucrative returns and high interest rates, collecting approximately ₹5.5 crore through unauthorized investment schemes. When the schemes matured, the company allegedly failed to repay the deposited funds and interest, eventually closing its operations and disappearing with the investors’ money. The case was later entrusted to the CBI following judicial intervention amid growing public concern over chit fund frauds in the state.
A special CBI team conducted a meticulous investigation into the large-scale financial fraud, collecting extensive documentary evidence and other relevant materials before filing a chargesheet in the court. Following a prolonged trial and detailed arguments from both the prosecution and the defence, the Special CBI Court in Tripura found all three company officials guilty.
The court convicted the accused under multiple sections of the law and sentenced them to a cumulative 15 years of rigorous imprisonment along with substantial monetary penalties. The court further clarified that failure to pay the fines would result in additional terms of imprisonment.
According to legal experts and members of civil society, the Special CBI Court’s verdict is expected to serve as a landmark precedent in Tripura, where chit fund operators allegedly exploited and defrauded ordinary people of their hard-earned savings for years. The judgment is being viewed as a strong message against financial fraud and is expected to encourage more effective investigation and prosecution of similar chit fund and investment scam cases in the future.
Following the pronouncement of the verdict, stringent security arrangements were put in place within and around the court premises. The court also directed that the convicted individuals be transferred to the Central Correctional Facility without delay to begin serving their sentences.
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